Oireachtas Joint and Select Committees
Thursday, 8 March 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed)
9:30 am
Mr. Gerry Cross:
After the Quinn administration, there is an outstanding need for €782 million to be paid back to the Minister. There is an additional €110 million in respect of Setanta. There is currently €22 million in the fund, meaning there is an outstanding amount of €870 million. We calculate that on a 2% levy basis, it will take 11 years to clear that.
No comments