Pádraig O'Sullivan (Cork North Central, Fianna Fail) | Oireachtas source

I welcome the Minister's speech in which he reiterated there would be no cliff edge in the removal of supports and that they will continue for as long as is necessary to ensure a strong recovery. Given what we have gone through, we do not want to fall at the final hurdle and I welcome those sentiments today.

The point about FBD Insurance was a recurring one made by many speakers today. Will the Minister comment on reports last week that FBD is deducting the value of State supports from pay-outs? We are all aware of the landmark judgment in February. FBD was dragged kicking and screaming to stand over its policies. Now the insurer is attempting to use State supports and moneys to limit exposure of its own company in terms of pay-outs. This is wrong. These State schemes are supports for businesses. State-sponsored supports are not tailored to mitigate against the losses of private insurers. If FBD succeeds in what it is attempting to do, pay-outs to struggling businesses will be significantly reduced, making it more difficult for viable businesses to re-establish themselves once we reopen.

I was heartened by the comments of the Minister of State, Deputy Fleming, last week that Government pay-outs are made to help businesses struggling through the pandemic, not to reduce the liability of insurers. I would welcome a response from the Minister regarding the same.

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