IT’S been almost four years since the Government announced the €440bn bank guarantee — and in so doing, burdened taxpayers with the debts of the Irish banks.

We’ve got little thanks from our banks since. Mortgages — for those who can get them — have got more expensive. Many businesses battle to get loans. Bank charges have shot up — and they will continue to go up for another two or three years, warns David McCarthy, managing director of theGalwayfinancial consultants, McCarthy & Associates.

“All of the banks are scurrying around looking to see where they can increase income,” said McCarthy. “Anyone going into a bank to renegotiate their borrowings or have an overdraft reviewed is likely to have their interest rate increased — or higher charges on their account.”