Varadkar downplays possibility of 'complicated' mortgage relief measure in budget

Speaking at a press conference at the British-Irish Council summit in Jersey, Mr Varadkar called for a “redoubling” of efforts to restore the powersharing executive and the Northern Ireland assembly

Taoiseach Leo Varadkar said interest rates are now only returning to their “historical average”. Picture: Damien Storan/PA

Taoiseach Leo Varadkar has poured cold water over proposals to introduce mortgage interest relief in the upcoming budget, saying interest rates are now only returning to their “historical average”.

Mr Varadkar said that while he understands the “biting” impact that increased interest rates are having on mortgage holders, rates are being increased as part of efforts by the European Central Bank (ECB) to curb inflation.