Sinn Féin proposes cap on moneylender interest rates

Sinn Fein spokesperson on social protection Claire Kerrane, who has launched proposals to tackle poverty in Ireland. File Picture: Gareth Chaney/Collins

Covid-19 has resulted in a significant widening of the poverty gap and urgent action is required to address household debt, Sinn Féin has said.

Launching proposals, which include a cap on the interest rates by moneylenders, who can charge up to 288%, Sinn Féin social protection spokesperson Claire Kerrane said some people had been able to save during the pandemic but others were seriously struggling.