Possible mortgage rate increase and subsidy

Summary

Collins asked whether the Minister would challenge a proposed rate rise and consider a subsidy; the Minister said societies were consulted and there was no evidence of an increase. Quinn ended with a political jibe.

Edward Collins Mr. E. Collins Fine Gael

If the building societies indicate that they want to increase the rate, will the Minister call them in and seek full justification for that increase? If an increase is granted, will the Minister consider a subsidy?

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Joseph Brennan An Ceann Comhairle Fianna Fáil

That is a hypothetical question.

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Sylvester Barrett Mr. Barrett Fianna Fáil

We always have consultations with the societies. There were two threats of this before and it did not happen. There is no evidence now that it will happen.

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Edward Collins Mr. E. Collins Fine Gael

The Minister does not expect an increase in the interest rate?

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Ruairí Quinn Mr. Quinn Labour Party

There was no evidence that Fianna Fáil would lose Cork.

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