June 16, 2023
Taoiseach completely out-of-touch with the financial pressures households face as interest rates rise – Pearse Doherty TD

Sinn Féin spokesperson on Finance, Pearse Doherty TD, has described comments made by Taoiseach Leo Varadkar as “completely out-of-touch from the acute financial pressure so many households face, as mortgage interest rates continue to rise”.

The Donegal TD again reiterated his party’s call for the introduction of temporary and targeted mortgage interest relief to support struggling households.

Speaking today, Teachta Doherty said:

“Comments made by the Taoiseach today are disappointing but unsurprising.

“Remember, this is the Taoiseach who facilitated the sale of tens of thousands of mortgage loans to vulture funds.

“This is the Taoiseach who said these households would be no worse off once their loans were sold to vulture funds.

“These households are now facing interest rates as high as 8 percent, seeing their annual mortgage costs rise by thousands of euros.

“He was wrong then and he is wrong now.

“It is clear the Taoiseach has his head in the sand – completely out-of-touch from the acute financial pressure hundreds of thousands of households are now facing.

“We have been contacted by households that are seeing their mortgage rise by more than €8,000.

“The Taoiseach has described this as normal.

“Households are facing these interest rate hikes while in the grip of the worst cost of living crisis in a generation, with rising food prices and spiralling energy bills.

“The Taoiseach has failed to bring forward any ideas or policies to address the difficulties these households are facing.

“He has brought forward no proposals to address the difficulties faced by households whose loans were sold to vulture funds – sales that he supported.

“Households can and should be supported.

“Temporary and targeted mortgage interest relief should be introduced without delay.”

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