Oireachtas Joint and Select Committees

Wednesday, 3 July 2024

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Motor Insurance Insolvency Compensation Bill 2024: Committee Stage

1:30 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

That is fine and crystal clear. It would be a benefit as it is a 3% additional levy on the top of gross written premium. On this policy in the legislation before us, is that the trajectory the Department expects or does it expect that this legislation requires us to continue those levies? As I said, the Quinn Direct levy is supposed to be gone in two years. The other levy, which we will call the Setanta levy, is supposed to be gone in a year. Will this legislation change that as a result of the needs and requirements?

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