Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

The private insurance industry are rip-off merchants. That is what we have learned from the Central Bank. Some of us have been saying that for quite a long time, by the way. The Government said it was all fraudulent claims, particular risks, etc. They are rip-off merchants. We cannot allow the fate of childcare to be dictated by rip-off merchants. We need a not-for-profit insurance entity. That is not radical socialism, by the way. They have done this in Canada in motor insurance. Because motor insurance premiums were going through the roof, the state set up not-for-profit insurance entities. It seems to me that we should have that for childcare, and for other sectors, for that matter.

We have to ensure that administrative, insurance and other costs are not passed on to the already unaffordable cost levels of childcare. In my area, they are the highest in the country, but they are unaffordable everywhere. How is the couple that I mentioned earlier supposed to manage? The national childcare scheme will only give them €20 a week. I made this point to the Minister last week.

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