I thank the Deputy. There is a limit on the time available to facilitate me updating him and doing justice to the work I do specifically. On the issue of the timescale, the Deputy is fully aware that we have a wide-ranging plan for insurance reform underpinned by the action plan for insurance reform. This cross-departmental action plan was published in December 2020 with the most recent implementation report, from March 2022, indicating that work is progressing well. The vast majority of actions in the plan have be…

I thank the Deputy for highlighting those points. The national claims information database, which is compiled by the Central Bank, is unique and provides a level of information that is not available in any other EU country. An issue that has cropped up at all our meetings is that of pinch points. We are dealing with those very specifically on an area-by-area basis. This week we completed the Second Stage reading of the Insurance (Miscellaneous Provisions) Bill 2022. I hope it will go to Committee Stage shortly. It …

It is very important to point out that while the judicial guidelines are giving reductions of 40% in the cost of claims for soft tissue injuries and the most common injuries, no one who understood the system ever believed that would lead to a 40% reduction in premiums because the cost of those claims was the biggest cost to the insurance industry but it was not its only cost. That 40% will apply to the proportion of their costs that related to the cost of claims.

Whatever. The issue is that they are working so well that people have seen they are getting less, and that is why there are test cases. We have had a big increase in the number of people not accepting the new reduced awards and taking their claims to court. When we have those test cases through the courts, I hope the colleagues of the Judicial Council who wrote the guidelines will implement them in full. That has slowed up the settlement of many cases in the last several months since these guidelines were brought i…

I propose to take Questions Nos. 11, 16, 30 and 75 together. I thank the Deputy for raising the expansion of credit union services. The Government recognises the importance of credit unions. The programme for Government contains four specific commitments for the sector. These can be condensed into one key commitment, which is to enable the credit union movement to grow. That means growing credit unions' lending books. I addressed the Irish League of Credit Unions AGM in Belfast at the weekend which was also address…

Since the Government came to office we have had detailed consultation with all the representative bodies in the credit union, several rounds of consultation culminating in a recent meeting I chaired with all the representative bodies. There is agreement across that entire group on 15 changes that will help the credit unions. We are starting to draft the legislation for those. There is much work in that and it is important. The capital requirement is very important. There is a requirement for 10%. As I said, I was a…

That is an interesting point. Both those organisations deal with the Department of Finance. An Post has a good arrangement with AIB and Bank of Ireland for dealing with its cash business and everything like that. Especially as Ulster Bank is withdrawing from Ireland and the other banks have announced many branch closures, there is a fantastic opportunity for credit unions. In many towns throughout Ireland the credit union is the only financial institution left standing. Most of those areas may or may not have a pos…

The Deputy might give me a moment. We have jumped quite a few questions because people are not here this morning and I want to get my folder in order. I thank him for raising the issue. The research and development tax credit allows companies to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. To conclude our conversation of a few moments ago on the credit unions, if there is anything the Deputy wants to contact me directly on I would be very happy for him to do so. We can tak…

The Deputy will appreciate I do not have the full schedule of costs. I am making a note to get that information from the Department through contact with the Revenue Commissioners. The latter will have the information on the number of businesses taking up that relief readily to hand. Through my office, I will ask for that information to be obtained and forwarded to the Deputy.

The promotion of this scheme genuinely falls to the Department of Enterprise, Trade and Employment. It is about business. We will write the cheque at the end of it but it belongs to that Department. From my own direct knowledge of the scheme I agree the small businesses do not know about it. The local enterprise offices, LEOs, know about it and Enterprise Ireland, EI, knows about it for its clients as well. In my own work as a Deputy, I realise there is very little happening with it in Ireland. Through the institut…

I thank the Deputy for raising this particular issue. We have had discussions here about various forms of taxation, which is one part of the issue the Government has been dealing with, but there have been many other interventions as well. The Government has intervened on four occasions to address the increases in the cost of living, at a combined cost of approximately €2.1 billion. First, budget 2022 contained an income tax package of €520 million. On the expenditure side, a social welfare package worth €558 millio…

I thank the Deputy for his question. As I have said, there were four measures introduced, starting with the budget. The February and March measures were followed by the most recent set of changes. The Minister for Finance has made it clear that this is the final intervention until the next budget. There are no further interventions planned over the summer months. These measures are designed specifically to take us up to budget night, at which stage any new measures agreed as part of the budget can be announced. It …

I thank the Deputy for raising this question. It is a matter that is relevant for many people. While it is regrettable that Ulster Bank and KBC Bank have decided to exit the Irish market, the Deputy will understand that the Minister for Finance does not have a role in relation to the commercial decisions of the banks. The Minister's priority is to ensure each bank withdraws from the market in an orderly manner. That word - "orderly" - is the most important one I will use here in this context. It must be done in an …

The letter issued by the Central Bank to the organisations I mentioned in passing seeks to reinforce and, to any extent necessary, clarify the application of the expectations of the Central Bank's previous letter of June 2021 and to invite the CEOs to a round-table meeting hosted by the director general of financial conduct affairs, Ms Derville Rowland. The following are the key issues and risks that have been identified: the notice period for people in relation to the closure of accounts; the application of the sw…

I understand what the Deputies opposite are saying. As I said earlier, there are regular meetings with the Department of Finance about this process. I spoke to Ms Derville Rowland on the matter just a fortnight ago. Everybody in the Department and at the Central Bank, which will be at the forefront of facing these issues in conjunction with the banks, understands the issue. Banking & Payments Federation Ireland is currently sourcing a provider for a media campaign to inform customers on the actions required to move…

I thank the Deputy for raising the matter. I do not have a prepared response to his question. Most of the issues he has raised have been dealt with by way of motions in this House. There have already been two such motions this week. There were resolutions last night with respect to Revenue issues. The debate we have had this morning has covered a number of issues around the cost of living and the impact of inflation. Everybody accepts that the projections for inflation are much higher now than they were before the …

A social welfare Bill is not required to bring a social welfare package through the House. We have seen that with respect to taxation and we saw it on several occasions with respect to Covid-19. I already mentioned the free fuel allowance. The scheme was extended by a number of weeks, which was worth more than €1,000 to the 390,000 people who are in receipt of that payment. That is a high figure and the people who benefited are the most vulnerable in the country. It is a fuel allowance. Since its inception, it was …

In case some people did not hear my earlier response, I reiterate that the Government has introduced the energy credit which effects everybody the Deputy has spoken about. The lump sum of €125 for the fuel allowance will be paid to 390,000 people. That scheme has already been extended by a number of weeks. There will be a temporary reduction in public transport fares and many, though not all, of the people the Deputy has referred to have free travel passes. Those who have to pay for public transport will benefit fr…

I thank the Deputy for raising this issue. The section 481 tax relief provides a 32% payable credit for eligible expenditure on film production in Ireland. The expenditure has to be incurred in Ireland, meaning the benefit of the jobs and employment is here in Ireland. Historically, there was a situation where some of the expenditure did not have to be incurred in the State so the benefit was not accruing to people in employment in the State but that is no longer the case. The scheme is intended to act as a stimulu…

With regard to any specific workplace disputes, including the accusation of the abdication of any duty that befalls the company by law, the Workplace Relations Commission and the Labour Court are the organs of the State tasked to deal with the resolution of such matters. It is appropriate that any relevant claims be referred to those bodies for adjudication. There are no immediate plans in place to amend the section 481 legislation at this time. The film regulations provide that the Minister for Tourism, Culture, A…