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Dáil
‹ An tOrd Gnó - Order of Business

Mortgage interest rates and accountability row

Summary

Deputy Mary Lou McDonald raised the impact of another ECB mortgage rate hike and called for relief, while the Taoiseach said such measures must be considered at budget time. The exchange then deteriorated into a heated argument over political accountability and past controversies, ending when time ran out.

If I can say for the record, the Taoiseach's response to Deputy Murphy was pretty disgraceful.

Homeowners are bracing themselves for tomorrow when the European Central Bank, ECB, will sign off its seventh mortgage interest rate hike since July of last year. This means that tens of thousands of workers and families will pay hundreds of euro extra per month compared with last year. People were under pressure even before this additional hike. It is becoming harder for homeowners to absorb these increases. For now it is in fact unbearable. Incredibly, the response of the Government has been to do nothing. Last week, it voted down Sinn Féin's mortgage interest relief plan but did not present a plan of its own. In my view, it is not good enough for the Government to tell struggling homeowners, fleeced by hike after hike, that they are on their own. Will the Taoiseach tell us what action he will now take to support these families that are under huge pressure from spiralling mortgage costs?

Comment on this
Leo Varadkar The Taoiseach Fine Gael

I am not surprised the Deputy believes my earlier response to be disgraceful because she is another person who refuses to come into this House to answer questions. Accountability should not be just for Ministers. Questions have been raised about her party's finances-----

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Catherine Connolly An Leas-Cheann Comhairle Independent

Time is running for the reply.

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Leo Varadkar The Taoiseach Fine Gael

-----and about her party's links to organised crime and she will not come in here and make a statement and take questions.

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You are a disgrace.

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Catherine Connolly An Leas-Cheann Comhairle Independent

The time is running.

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Leo Varadkar The Taoiseach Fine Gael

These are much more serious matters than what happened at the Bruff area committee 16 years ago and she refused to come in here and answer questions about her party's finances and her party's links to organised crime.

Comment on this

That is disgraceful.

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Leo Varadkar The Taoiseach Fine Gael

It is not a surprise she would align herself with Deputy Murphy in this regard.

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You shame your office.

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Catherine Connolly An Leas-Cheann Comhairle Independent

Deputies, please.

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You are an absolute disgrace.

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Leo Varadkar The Taoiseach Fine Gael

Accountability should not just be for-----

Comment on this

You shame your office.

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Leo Varadkar The Taoiseach Fine Gael

-----Ministers or people on the Government benches; it should be for all of us.

Comment on this
Catherine Connolly An Leas-Cheann Comhairle Independent

Taoiseach.

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Leo Varadkar The Taoiseach Fine Gael

The Deputy demands accountability of others and evades it always when it relates to herself and her party, and that is a fact.

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You are shameful, Leo.

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Catherine Connolly An Leas-Cheann Comhairle Independent

Taoiseach, the time is running in relation to the issue. I am going to have to cut you off now and the issue has not been answered.

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Leo Varadkar The Taoiseach Fine Gael

On the question, interest rates are set by the ECB-----

Comment on this

We are well aware of that.

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Leo Varadkar The Taoiseach Fine Gael

-----as the Deputy will be aware. When it comes to the issue of mortgage interest relief, that can be considered only in the context of the budget. As I have said in the past in the House, we cannot be changing the income tax system every couple of months. It is best done at budget time and we will consider it in the wider context at that time.

Comment on this
Catherine Connolly An Leas-Cheann Comhairle Independent

Táimid thar am. We are out of time.

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