A measure – big or small - that comes back, either quickly, or over time, to take the feet out from under the Government of the day.
Another point of possible trouble are the two funds that are to be set up to cater for future health and pension needs as the population ages, and for spending on infrastructure during economic downturns, as well as climate measures. For many months prior to the Budget, Sinn Féin had been talking up the need for some sort of assistance for hard-pressed households who have seen their mortgage repayments soar since the European Central Bank began hiking rates in July 2022.
Because of their chequered credit histories, they cannot move their mortgages to another lender, as none will take them on.As a result, some 32,000 borrowers in such a circumstance have been stranded with ever increasing tracker or variable rates, which in some cases now top 9%. When Michael McGrath made the announcement though it became obvious that it was far more wide-reaching than that.
To claim it, the taxpayer has to file a tax return – something many people will not know how to do, or want to do.
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Mortgage relief could yet be banana skin for GovtHistory shows that in many Budgets, there has been an unexpected banana skin of some sort. A measure – big or small - that comes back, either quickly, or over time, to take the feet out from under the Government of the day.
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