Oireachtas Joint and Select Committees
Thursday, 13 June 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Cost of Insurance Working Group: Minister of State at the Department of Finance
Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source
To respond to something the Deputy said previously, my colleagues in the Government did not let me down. I want to make that point because it has been said quite a bit. I was given full authority to deal with this by the Minister for Finance, Deputy Donohoe. He told me to go and deal with it. I do not think anyone is questioning my commitment to dealing with the insurance difficulties we have at the moment. Subsequently, when it looked though as the Judicial Council Bill would be slowed down or delayed, I went to the Taoiseach and he gave me his full support. The reason we are back on track is because of the support from the Taoiseach, the Minister for Finance and the Minister for Justice and Equality.
What the Deputy is saying goes back to increases in 2015. What shocked me most was the lack of data and information when I came into this job two years ago. The Deputy is asking me to comment on what happened two years before I came into the job and I cannot do that. I will comment on what will happen in the next two years. The cost of insurance working group met during the week. Representatives from the Central Bank were there and I pushed them strongly about the NCID. Work started on that immediately after the legislation was passed. That work is ongoing. I hope we can get the figures from the NCID and have granular analysis in respect of the entire motoring sector first. We will have that in this calendar year. I am pushing very strongly for quarter three which is not very far away. I cannot give a commitment that this will happen in quarter 3 but I have a commitment from the Central Bank that it will happen before the end of the year. We will have the information analysed. We will have-----
No comments