Irish opposition to test new government with mortgage rate bill


President Michael D. Higgins signs Prime Minister Enda Kenny's Seal of Government to office of Taoiseach in Dublin, Ireland May 6, 2016. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) - Ireland's main opposition party said on Monday it would table a law to give the Central Bank power to intervene in the setting of mortgage rates, in one of the first legislative tests of the new minority government.

Prime Minister Enda Kenny's coalition last year used its majority to vote down a similar proposal. But his new minority government, formed on Friday, controls just 59 of parliament's 157 seats, leaving opposition parties with enough votes needed to pass legislation if they act together.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Peru lawmakers gather support to call for debate to oust president Jeri
US, Taiwan finalize deal to cut tariffs, boost purchases of US goods
Ukraine's Zelenskiy: We have backed US peace proposals to get a deal done
China's Sun Long wins silver in men's 1,000m short track speed skating at Milan-Cortina (updated)
Australia opposition elects former energy minister Taylor as new leader, ABC reports
China opens women's curling campaign with victory at Milan-Cortina Games
North Korea says South Korea should take steps to prevent violation of its sovereignty
U.S. stocks close lower
Medal table at Milan-Cortina Winter Olympics on February 12
EU moves to speed up single market, eyes smaller-group cooperation

Others Also Read