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

In 2019, Leo Varadkar said he was giving the insurance industry 6 months to cut costs.

Here we are 5 years later and figures show that motor insurance has increased EVERY month over the last 10 months.

Sinn Féin in Government would hold the insurance industry to account, rather

Hosting Euro 2028 an ‘unmissable opportunity’ - @johnfinucane

“We must seize the opportunity to host the Euros by continuing to drive forward the redevelopment of Casement Park as a first-class facility fit to host this prestigious competition.”

https://vote.sinnfein.ie/hosting-euro-2028-an-unmissable-opportunity-finucane/

Watch as Sinn Féin Senator @paul_gavan grills the Health Minister on the complete and utter failures in University Hospital Limerick and our health system.

Sinn Féin has a plan to address the healthcare issues in the Midwest. @QuinlivanTD

Load More