Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We are not asking it to provide cover where there is a probability of property being flooded in the future. That is a much more complex issue, as the Government knows. The reality is that €1.4 billion has been collected from insurance policyholders in respect of the 3% stamp duty over the past 15 years. People are asking what that money was for. In cases where schemes have been completed, what will the Government do about the issue?

The response of the Tánaiste is not good enough. I want to know whether there will be another meeting with the industry before the election. What is the Government committed to doing? Will the Tánaiste give a commitment that the Government is prepared to introduce legislation if necessary? Ultimately, the industry will only act if that threat is made and they are compelled to provide cover.

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