Fine Gael TD for Meath East, Regina Doherty, has today (Thursday) welcomed the decision from the Public Accounts Committee (PAC) to seek an explanation on how AIB has used the billions of euro in taxpayers’ money, which they received specifically to support distressed mortgage holders.
“This week, AIB raised their variable mortgage interest rate in an attempt to become commercially viable again. This move takes no account of the thousands of people who are barley managing to make ends meet, and in reality it will push more and more people into arrears. There is a distinct lack of clarity around the money given to AIB, by the taxpayer, to assist distressed mortgage holders. These families and individuals deserve an explanation. Where is that money, was it used to assist distressed mortgage holders, and if so, how many were helped and by how much?
“The PAC agreed today to write to the Department of Finance requesting a full breakdown on how this money was spent and whether or not the full amount has been used to help distressed mortgage holders.
“I look forward to a comprehensive response to these issues being given to the Public Accounts Committee. We need clarity and transparency on this issue."