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Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: I am happy that the Minister changed his proposal-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: Take it out of the pockets of the owners of homes with mica.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: I have already explained.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: The Minister decided to push up house prices.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: But the Minister will vote against the levy on banks later on.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: The Minister will vote against all the measures we put forward in our budget-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: Germany has just introduced such a proposal.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: First, what we put forward, and the things the Minister has-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: 91. To ask the Minister for Finance if he will provide an update on the increased soft and hard costs resulting from the defective concrete products levy on a typical semi-detached house, its impact on housing supply and the cost of remediation for homeowners affected by defective blocks. [55906/22]

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Defective Building Materials (10 Nov 2022)

Pearse Doherty: The Government plans to push ahead with a flawed and counterproductive levy on concrete products, even despite all the warnings that the levy it has designed will result in higher housing and building costs for workers and families. We heard at a meeting of the finance committee from experts, including the Society of Chartered Surveyors Ireland and those impacted by the mica scandal, that...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: 89. To ask the Minister for Finance the number of outstanding mortgage loans that are tracker or variable rate mortgages; and if he will consider options to introduce targeted, tailored and time-bound mortgage interest relief in response to rising interest rates. [55905/22]

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: On 14 September, the ECB increased its interest rate by 0.5%, bringing it up to 2%. This was the third rate hike since July with further hikes expected in the coming months. This has had an immediate impact on households on tracker mortgages and could impact those on variable rate mortgages in the coming months, heaping further financial pressure on struggling households. Will the Minister...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: Gabhaim buíochas leis an Aire. I am fully aware that the interest hikes are yet to be felt by all mortgage holders. Hopefully the bank will continue to absorb these hikes. Time will tell, but it is likely that some of that will change. For those on trackers, there has been an immediate impact. Those with an outstanding balance of €200,000 will see their repayments increase...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Interest Rates (10 Nov 2022)

Pearse Doherty: The Minister talks about modelling the cost but the reality is people here face a massive increase in repayments. For people struggling with gas, electricity, food, petrol and diesel prices over the last six months, to be told they have to pay an extra €2,000 in mortgage repayments on a typical family home with an outstanding balance of €200,000 is a huge wallop. They are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Pearse Doherty: I do not support either of the amendments. Our position on the USC is well laid out. More lower income earners need to be taken out of the tax bracket and we will table amendments on Report Stage on this. It would also be a better way to provide a tax break for workers and would not do what the Minister has done, namely, exclude the large number of almost three quarters of income earners...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Pearse Doherty: I will not go into the example the Minister gave about corporation tax and income tax. Obviously one is on profits and the other is on income and not the turnover of the company. I want to focus on the issue of USC. As I said, I do not support these amendments but I must take the Minister up on his commentary suggesting that he abandoned this policy. This was described by Fine Gael as...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (10 Nov 2022)

Pearse Doherty: I am arguing for it.

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