Paudge Connolly (Cavan-Monaghan, Independent)

Regarding what is referred to as "hot money", does the Minister agree that the life assurance companies should be targeted to a greater degree than the policyholders? Does he agree that the corporate executives who designed the insurance scams should be examined and made to answer to the Revenue? It was an industry-wide product which was not dreamt up by one company. The financial institutions believed they were above the law in trying to get people to hide money. Why should we pursue the policyholder? Is it not the service provider which should be pursued? The consumer and policyholder could be seen as a soft touch in that they are easy to identify. It is important to point out that the Sale of Goods and Supply of Services Act 1980 existed at the time and was not used by the Revenue to target the providers of such services.

Does the Minister agree that we are targeting the wrong people? The companies are in breach of regulation and we should pursue them. They colluded in this activity. Does the Minister agree that the State has a responsibility to ensure that natural justice applies in this case, which means going after the companies that designed these plans? Does the Minister agree that commission-based agents were tasked to trawl communities and target hot money?

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