Friday 15 November 2019

Coalition row over terms for bankrupts

Niall O'Connor and Daniel McConnell

Tensions between the Coalition partners have heightened over Labour Party proposals to cut the maximum term for bankruptcy.

Senior Labour figures said they saw a reduction in the maximum of three years as "a done deal". However, it has now been met with resistance from Fine Gael ministers who fear any reduction will spark an increase in repossessions.

The row means relations between the Coalition parties are now at their lowest ebb in almost a year.

It has also delayed the Government's much-anticipated package of measures to address the mortgage arrears crisis.

However, the Coalition does at least appear united on fresh moves to ease the burden on homeowners stuck with costly variable-rate mortgages. Senior Government ministers warned the banks will face higher levies if rates do not come down.

Irish Independent

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