Minister’s contact with building societies
Burke pressed the Minister on not having met building societies as mortgage rates rose from 13.15% to 16.25%. The Minister confirmed he had not met them but said a meeting was planned soon; Burke accused him of disregarding mortgage holders, and the Chair eventually declined Burke’s request to ask another question.
Would the Minister of State confirm that his statement with regard to the problems of prospective purchasers and existing mortgage holders can be questioned because since he became Minister of State he has never met the building societies? First, will the Minister of State confirm if he has ever met the building societies since he became Minister of State in view of the increase in interest rates from 13.15 per cent to 16.25 per cent?
Comment on this
The Minister has not. With a 3 per cent increase in interest rates the Minister has not met them to discuss it.
Comment on this
I have not met them but I have indicated to the building societies that I will be meeting them in the very near future and they are aware of that.
Comment on this
I have respect for the Chair. But when the Minister comes in here and bluffs for an hour at Question Time and says he has never met the building societies at a time when mortgages are going from 13.15 to 16.25 per cent, one has to question his commitment. He has never even bothered to meet the building societies.
Comment on this
Obviously this National Housing Agency is having a grave effect on Deputy Burke. I am sorry it is having that effect on Deputy Burke.
Comment on this
The Minister never bothered his barney to go and meet the building societies to discuss the increase. It is a disgrace. It shows the Minister's commitment to mortgage holders.