Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

As Deputy Doherty knows, budget 2024 introduced a series of cost-of-living measures, including income tax, energy credits, increases in social protection payments as well as an increase in the bank levy to €200 million. It also provided for a mortgage interest relief measure to help some borrowers with the increase in interest rates. That took place. It did not cover every situation but it has provided some relief and the Minister for Finance was very anxious to bring it in.

I also welcome the announcement this week by PTSB that the bank will cut mortgage interest rates for new and existing customers by up to 1.05%. These rate reductions mark the third set of cuts to fixed-rate mortgages at PTSB since last December.

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