Gerald Nash (Louth, Labour)

If there is evidence to the contrary, show us that and we will accept that but let us interrogate that.

Another point that is worth making is that it is fair to assume that peer countries are doing better and businesses, voluntary groups and consumers in those countries are generally doing better with lower premiums. Their providers have more modest profits but profits that are healthy and are maintaining their businesses at a decent level, shareholders are getting value, staff are being paid properly, senior staff are being remunerated properly and everything is functioning in the way it should. We have an unusual case in Ireland where, as Mr. Jennings said at the outset, everything is coming down except their profits. This is the key point and requires our attention. Due to the financial crash and the banking situation previously, we have a banking union, we have clarity about banking products and services and the area is heavily regulated across the EU. In the context of the new form of competitiveness we need in Europe - the Draghi report is very interesting about how Europe needs to shape up in terms of competition, innovation, enterprise and supporting SMEs - is there a case for some form of European intervention to make sure there is more fairness across the European market? If we take it that one of the problems we have in terms of the functioning of Irish SMEs is around accessing insurance and that this may be a bigger Europe-wide problem, is there a function for the EU in examining the insurance market?