The Irish government is being urged to help struggling householders after the European Central Bank (ECB) announced its 10th interest rate hike since July 2022.

Sinn Fein's Pearse Doherty TD described the increase as "extremely worrying" and has called for a temporary and targeted mortgage interest relief to be introduced in next month's Budget.

Teachta Doherty said: "Before today's announcement the Central Bank estimated that one in five households would see their annual mortgage costs spiral by more than €5,700 as a result of rate hikes.

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"With two in five seeing their annual mortgage costs rise by more than €3,000.

"With today’s announcement, these costs will increase further for so many.

"This is a massive income shock for households in the grip of a wider cost of living crisis.

"For months Sinn Féin have called for the introduction of temporary and targeted mortgage interest relief to support struggling households.That must be introduced in next month’s Budget.

Households struggling with spiralling mortgage costs need support and they need it now."