SSIA holders prepare to go on spending spree

SSIA holders are set to splurge on cars, home improvements and holidays, setting aside just 10% of their funds to repay debt, despite Ireland having one of the highest levels of personal debt in the Eurozone.

The low priority given to debt repayments exists despite recent warnings that proposed Central Bank interest rate rises will cause serious difficulties for many.

Yet Central Statistics Office (CSO) figures released yesterday show that SSIA holders are opting to spend their windfalls on cars, home improvements and foreign holidays.