Mortgage Holders Continually Battered by the Banks and the ECB – Daly

“The government cannot continue to stand idly by as mortgage holders are continually battered by the actions of the banks and the ECB.” – Sinn Féin TD for Kerry Teachta Pa Daly.

Sinn Féin TD for Kerry, Pa Daly TD, has raised the timing of interest rate rises made by AIB, shortly after the state attempted to reduce its controlling share below 51%.

Teachta Daly said that on the 27th of June, the state put up 5% of its stake in AIB for sale. This move reduced the government’s holding to 46.9%, and on Thursday the 29th of June, AIB announced interest rate rises.

“Whilst interest rate rises have been announced before by AIB, the timing of the announcement was another blow to households, as well as telling indication of government priorities,” he said.

Workers and Families Struggling 

“Workers and families are struggling badly, with rising inflation figures, increased energy costs and costs such as back to school expenses. Mortgage interest rate increases represent another burden for ordinary people.

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

Battered by the Banks

“We have proposed mortgage interest support scheme that would provide relief on 30 percent of the increased interest costs households have faced since July of last year.

“The government cannot continue to stand idly by as mortgage holders are continually battered by the actions of the banks and the ECB, even as it works to reduce the state’s own involvement in the banking sector,” said Teachta Daly.

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