Oireachtas Joint and Select Committees
Thursday, 24 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Insurance Costs for Community Groups: Discussion
10:00 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Ms McGuinness said there is a fear of marts not being able to absorb these costs in the future if they continue to rise. She has given us the data and how, for example, the premium for the Tuam co-operative has gone from €34,000 to €79,000. I am not familiar with the profit margins of the mart. Ms McGuinness said her job is to break even. I do not know if that cost is easily absorbed. If the marts continue to see this type of increase, which is in excess of 100%, with some increases of 255%, repeat over the next three years, would we definitely see the closure of marts?
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