Botched Mortgage Interest Tax Relief unfairly locking out so many households – Pearse Doherty TD

March 11, 2024

2 minutes read

Donegal TD Deputy Pearse Doherty has warned that struggling households have been unfairly locked out of any support under the government’s Mortgage Interest Tax Relief.

The Sinn Féin Spokesperson on Finance said that hundreds of thousands of households will not receive any support under the government’s tax relief with many seeing a massive increase in their mortgage interest costs.

Speaking this morning, he said:

“The government have failed households struggling with spiralling mortgage costs.

“Since the ECB began hiking interest rates, Irish mortgage interest costs have increased by a massive 64 percent.

“Figures released to me by the Department of Finance show that 138,000 households that have seen their mortgage costs rise will be locked out of the scheme because of unfair and nonsensical restrictions put in place by the government.

“There are also many households who will not receive any support with their mortgage costs because their incomes are too low.

“I am aware of households, including single parent families, that have seen their mortgage costs rise by thousands of euros, but do not qualify for the relief because their incomes are too low and tax liabilities too small.

“In October, Minister Donohoe promised a mortgage interest support for households that could not receive it through the tax system – where is it?

“Five months later and no such scheme has been announced by Minister Donohoe, Minister Humphreys or the Finance Minister.

“Households that need the most support with spiralling mortgage costs are among those being locked out of the scheme.

“The botched mortgage interest relief reflects a government that is completely out of touch with the financial challenges facing so many workers and families.

“For over a year, Sinn Féin campaigned for the introduction of targeted mortgage interest relief to be applied at source.

“If our proposals had been implemented, every struggling household that is facing soaring mortgage costs would have received much needed relief and support.

“Instead, under this government, hundreds of thousands of households, many of whom are under dire financial pressure, are receiving no support whatsoever.”

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