Pádraig Mac Lochlainn TD

Working for Donegal

We now need a moratorium on rents, mortgages and loans

Posted on: Wednesday, March 18, 2020

“We now need a moratorium on rents, mortgages and loans”- Deputy Pádraig Mac Lochlainn
Donegal Deputy Pádraig Mac Lochlainn has called on the government to move swiftly on a moratorium/ holiday on rents, mortgages and loans for affected workers and businesses similar to those in place in other EU States.
He said:
“Huge numbers of workers and self employed business people across Donegal have lost their income due this crisis. While I welcome the emergency Covid-19 payment of €203 per week for the next six weeks, I am really concerned that so many of our people will struggle to pay their bills including rents, mortgages and loans.
This is a heartbreaking situation for those affected. They have done what is right by our people and our State and now our State needs to do what is also right and fair for them. And that is a State or government ordered moratorium/ holiday on rents, mortgages and loans for the duration of this crisis for the workers and self employed business people who are now out of work and income”.
“The emergency legislation passed in the Dáil and Seanad later this week should enable that. There should also be emergency legislation that supports workers who have had to give up their employment to take care of their children due to the closure of childcare services and the need to isolate from older family relatives. And there needs to be financial supports provided to people funding or subsidising  their third level education through jobs that are now lost too”.
“A decade ago, our State and our people were forced to bail out the banks and financial institutions to the tune of thousands of millions of euro. We are still carrying that heavy burden today. 
Those banks and financial institutions need to step up now and repay that debt to our people. The government must now ensure that these emergency measures are rolled out and insist on the full support of the Central Bank and the pillar banks”.

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