Michael Noonan (Limerick East, Fine Gael)

I thank the Minister for a very full answer. I understand Mr. Quinn has written to the Minister and all his colleagues. In the course of his letter, he states that the action taken by the regulator was highly aggressive and unnecessary. He claims it will make the repayment of outstanding debt extremely difficult and that it also endangers the 5,500 jobs in Ireland unless it is immediately reversed. Will the Minister comment on those claims of Mr. Quinn in view of his answer?

Second, will the Minister outline the precedents for imposing levies on policyholders arising from the 1963 insurance compensation provisions? Will he state whether the levy would be applied to all insurance policies except life insurance and that it would include health insurance, or would health insurance also be exempt from the levy?

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