In the current debate on the 2014 Finance Act, there have been proposals to ease fiscal policy more than the government plans to do. Danmarks Nationalbank takes a clear stand on that issue. There is neither a need for nor scope for further expansionary measures. Fiscal policy is already very close to the limits of the framework adopted.
This is particularly true for insured mortgages, where more than 80 per cent of the cost of the home is being borrowed. We have seen a drop in the proportion of insured mortgages being issued to highly indebted borrowers, that is, people whose debts are more than 450 per cent of their income. This is a positive development.