Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The reality is that the Government has been found wanting in relation to mortgage interest relief. For the last year, as letter after letter landed in the letterboxes of families across the State, month after month, with ten letters now telling them that their mortgage interest rate has gone up if they are on a tracker mortgage, the Minister has come forward with nothing.

There are no proposals and there is nothing to support these families in the form of mortgage relief, and that is not acceptable.

In 2016, when interest rates were zero, the Minister argued for mortgage interest relief at a rate of 100%. We are arguing for a rate of 30%, with a cap of €1,500, at a time when mortgage interest rates have never been as high at ECB level. Why has the Minister decided to abandon these homeowners now? Why has he decided, now that he is in the driving seat, not to believe in what he was arguing in 2016, when interest rates were zero? It makes no sense. Interest rates were zero, the Minister was arguing for 100% relief and he wanted it continued for a longer time, but he was not able to negotiate that. Interest rates are now 4.5%. People in this State are paying interest rates of up to 10% because they are in the claws of the vulture funds, and the Minister is coming up with nothing. Why has he U-turned on his position?

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