September 14, 2023
Action needed to address mortgage misery as ECB announces further interest rate hike – Pearse Doherty TD

Sinn Féin spokesperson on Finance Pearse Doherty TD has called for the introduction of temporary and targeted mortgage interest relief to support households.

This comes as the European Central Bank announced its 10th interest rate hike since July of last year.

Teachta Doherty said:

“Today the ECB announced its 10th interest rate hike since July, increasing its key interest rate to an all-time high.

“This is an extremely worrying time for so many households who will continue to see their mortgage interest costs rise.

“Before today’s announcement the Central Bank estimated that 1 in 5 households would see their annual mortgage costs spiral by more than €5,700 as a result of rate hikes.

“With 2 in 5 seeing their annual mortgage costs rise by more than €3,000.

“With today’s announcement, these costs will increase further for so many.

“This is a massive income shock for households in the grip of a wider cost of living crisis.

“For months Sinn Féin have called for the introduction of temporary and targeted mortgage interest relief to support struggling households.

“That must be introduced in next month’s Budget.

“Households struggling with spiralling mortgage costs need support and they need it now.”

Follow us online

Latest Tweets

📻 Sinn Féin spokesperson on Justice, Pa Daly TD, will be live on @LatedebateRTE tonight, from 10:00pm.

Listen here: http://rte.ie/radio1

Michelle O'Neill backs public sector workers’ efforts to achieve fair pay http://vote.sinnfein.ie/oneill-backs-public-sector-workers-efforts-to-achieve-fair-pay/

The deal between London & Brussels is done. There can be no more excuses for blocking an Assembly.

People’s patience is worn out.

The democratic outcome of the Assembly election must be respected.

We need an Assembly up & running now to support workers, families & communities.

📻 Sinn Féin spokesperson on Housing @EOBroin will be live on @drivetimerte today, from 5:05pm.

Listen here: http://rte.ie/radio1

Load More