Michael McGrath (Cork South Central, Fianna Fail)

Can the Minister clarify his intentions as to the exclusion of health insurance policies from the levy? I raised this issue during the debate on Second Stage. The Minister indicated that health insurance policies will be excluded from the levy for the moment but that the matter may be subject to review. When does the Minister intend to review this exclusion and what impact would the exclusion have on the amount of money the levy would raise if health policies were included? I know the Minister has excluded health insurance on the grounds that so many people are not renewing health insurance policies, given the increase in the cost of health insurance.

Can the Minister clarify the comment he made when concluding Second Stage, that we are not covering any further tail risk? It is my understanding that we are replenishing the compensation fund to the extent that is necessary and that the new venture, Liberty Anglo, will not be responsible for legacy issues, that is old claims that will come to fruition in the next number of years. If we are not accepting any further tail risk, surely we can put a final figure on the actual exposure, which is currently estimated at €738 million. I understand that figure is open-ended. Can we not be certain as to what the final figure will be?

In his remarks on Second Stage, the Minister did not address the issue of the sunset clause. Why are we not putting an end date for the levy in the legislation?

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