Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Obviously we cannot price the premiums ourselves because of EU law, but there is a lot that we can do. That is the work that the Chairman has done in the committee's report and that we see is being done now in terms of the cost of insurance working group. We are getting on top of this. The trend is 2% down year on year but 6% down since July of last year. There have been five months of no increase according to the CSO data. The person seeing a €200 increase in their motor insurance premium is going to take no comfort from that. I completely understand that. However, from our perspective as the Oireachtas and the Government, the overall data are going in the right direction. We are seeing a stabilisation and may hope to see a proper reduction follow, not just 6% year on year but greater than that. That is what we are hoping to achieve.