Never mind your TD. What are political parties' official positions on the variable rates scandal?

Looking at the various threads on the campaign, I can't help thinking that the essence of the debate is being lost in the detail. At bottom, however, people still must decide if they agree that the banks are egregiously ripping off variable mortgage rate holders, or not. And so do political parties: are they on the side of SVR prisoners, or are they on the side of the banks.

I haven't been searching actively for official positions, but it might be helpful as the election drumbeat gets louder to have some clarity on where each party stands as we continue to be fleeced to the tune of thousands per year.

I'm concerned here with senior party spokesmen, not individual TDs telling constituents what they want to hear. We've often been told on the forum that we should contact our local representatives, and generally that is a good idea, but their individual responses surely must be taken with a grain of salt. If this is a national campaign, we should have a clear picture of the positions of national spokespersons.

I'll start with my knowledge to date (no firm references at this point, but I think reasonably accurate based on general news coverage):


Has anyone else got a take on these and on the official attitudes of other parties? Sinn Féin, PBP, Renua? I propose expanding and updating the list as I get more information.

Sinn Féin had a motion in the Dáil on the issue calling for control of mortgage rates, as had Fianna Fáil.

Brendan

Thanks Brendan. Initial post edited.

Renua leader Lucinda Creighton expresses sympathy for SVR and agrees that people are suffering, but takes a swerve on blaming the banks or calling for political action forcing banks to adjust rates. Instead, in outlining her budget 2015 priorities, she wants the problem [broken link removed].

I see that I am unable to edit the initial post to update the record, because of board restrictions.

People Before Profit TD Richard Boyd Barrett challenged Patrick Honohan's faith in the market to fix the problem, and called for regulation of retail interest rates. Nevertheless, a search of the PBP website brought up virtually nothing on mortgage rates policy.

I thought that Socialists were ideologically against private ownership of property?

And I thought conservatives and economic liberals are against socializing risks and governmental bailouts. In 2008 as it turned out they are in fact against self-correcting markets, as long as it was about their money.

I think in general the socialist ideological family that would include Labour in most countries is skeptical about private ownership of the means of production, not ownership of family homes, or private property in general, that would be anarchists I would have thought.

visigoth said:

I think in general the socialist ideological family that would include Labour in most countries is skeptical about private ownership of the means of production, not ownership of family homes, or private property in general, that would be anarchists I would have thought.

Click to expand...

I understand. I guess that's why the New Land League were on the side of the little man recently.
Or are they Libertarians or what...?

I thought that Socialists were ideologically against private ownership of property?... etc

Click to expand...

Any chance we could stick to the specific issue of what parties want to do to help SVR victims, rather than play what's my ideology?

I only replied to a rhetorical Q of ClubMan, apologies.

The answer is pretty clear from that FF-sponsored bill to regulate SVR few months back that failed, it is the opp v. the govt, the battle lines are drawn. And how does it help us? If you take larger parties, then it is FG and L against while FF and SF are pro doing something. And there could be almost any configuration next year, from the populist FF+SF coalition to an unlikely but grand FF+FG to a much smaller FG+L again. And how do we SVR people vote? I personally cannot vote for FF, I think they should have been banned or sanctioned for economic subversion but maybe it is just me. SF is also an interesting proposition for many middle class good folks of Ireland. And I would never vote for FG because of how they treated the SVR issue.

And now with AIB moving on SVR again, campaign would die out and we the BOI SVR slaves are truly screwed.

I think it's true to say that so far only FF and SF have expressed unequivocal support for SVR emancipation. Others in opposition have made noises but don't explicitly call for direct intervention to stop the gouging.

Don't really know what any of the alliances of independents are saying. Shane Ross is on our side, but do his group, the Independent Alliance, have a coherent take on it? Ditto for Stephen Donnelly and the Social Democrats.

Worth keeping an eye on as the election race gathers pace, with, of course, healthy scepticism on hot air and promises...