Thursday 29 September 2016

Mortgage rules fuel pay hike demands

Anne-Marie Walsh and Eilish O'Regan

Published 07/04/2016 | 02:30

Unions and business leaders have warned that Central Bank mortgage rules could fuel a summer of industrial unrest
Unions and business leaders have warned that Central Bank mortgage rules could fuel a summer of industrial unrest

Strict Central Bank mortgage rules are fuelling wage demands by lower-paid workers, unions and business leaders have warned.

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The clampdown on lending is adding to a clamour for higher pay, which could escalate into a summer of industrial unrest.

A survey by the Irish Independent reveals low starting salaries for many State workers mean they have no chance of buying a home.

Public sector pay rates at entry level are still lower than they were in 2010, when the 10pc pay cut was imposed.

Nurses, teachers, civil servants and other public sector workers are also affected.

Business groups are also concerned about the potential impact of the Central Bank rules on wages.

Irish Independent

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