Feijóo proposes to provide a fund of 2,000 million to alleviate the mortgage crisis
The PP makes a move after avoiding for weeks participating in the parliamentary debate on how to intervene in mortgages after the continued rise in interest rates. Thus, the popular ones insist on one of their star measures announced to help the most vulnerable families: a mortgage rescue fund that is now estimated at up to 2,000 million euros. Along with this measure, the popular have also chosen to use personal income tax again as a lever to mitigate price increases through deductions in the next income statement.
From the PP they also estimate the number of citizens who would benefit from their measure: about a million people. In addition, they emphasize that this fund would not be nourished through the bank tax prepared by the Government, but through consensus with financial entities. “In the end, they are the main stakeholders of this measure because with this fund the number of defaulters is prevented from increasing. Thus, families can face the rate hike and, at the same time, meet their obligations in the loan”, point out PP sources.
The instrument would have a participation of both the financial entities as of Condition. However, they make it clear that the main amount must be assumed by the bank. Even so, they remember that the Executive is receiving significant amounts of money through personal income tax, a tax that, in the end, was not adjusted to the rise in prices and, therefore, continues with its state tranches without deflating. “Spain does not have an income problem, so it can perfectly allow itself to allocate a part to this fund to help families. It would be an amount that would not go to the State, but directly to the most vulnerable mortgage debtors,” they point out.
However, government sources reject the proposals of the Popular Party. “We are only attentive to the meeting held by the Ministry of Economy, with Minister Nadia Calviño at the helm, with the banking associations. Whatever comes out there will be what ends up being carried out.” The same sources avoid commenting on the fund announced by Nuñez Feijóo and do not rule out whether to include it in the negotiation.
The bank fund proposal launched by the PP is somewhat related to the one offered by the UGT union last September. “We call for the creation of a state budget fund to help people and households that are paying a mortgage and are going to see how its cost rises extraordinarily and excessively in their next renovation”. Esquerra Republicana de Catalunya (ERC), which proposed in full control session in Congress a background “rescue” of mortgages.
From the PP they seek to solve the mortgage crisis through four axes: the Royal Decree Law 6/2012 (which included the restructuring of the debt of vulnerable families, the possibility of removal of debt and the entry of dation in payment figure), extend the useful life of mortgages, encourage deductions in these credits and, finally, the creation of this fund participated by the Government and financial entities.
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