Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Today AIB announced a staggering profit of €2.8 billion. That comes a week after Bank of Ireland boasted €1.9 billion in profits. This is not the result of more productivity or innovation. It is the result of banks squeezing homeowners and short-changing savers. Financial institutions on the Government’s watch have lumped workers and families with extortionate interest rates in the middle of a cost-of-living crisis. Ireland, if the Taoiseach does not know, has among the highest interest rates in the European Union. This has been going on for years. Just like with insurance companies and energy companies, the Government is standing idly by while banks are taking advantage of workers and families.

I will ask the Taoiseach three questions. Does he agree these profits have been made off the backs of ordinary workers and families? What will he do to bring an end to this and hold banks to account? Will he make sure banks pass on the benefit to customers instead of announcing bumper profits at their expense?

See this speech in context