Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

On learning of the sad passing of the former Teachta, Mervyn Taylor, on my behalf and behalf of Sinn Féin, I express sympathy to his family, friends and colleagues in the Labour Party.

In April, the personal injuries guidelines came into effect and slashed personal injury awards. Finally, there was an opportunity for insurance premiums to be reduced significantly. Again, I ask that the Government remove the stay it has placed on my legislation, which would hold those insurance companies to account in terms of passing on these savings to consumers. Just when there was a glimmer of hope for consumers, this month the Department of Finance published a proposal to impose an additional levy on premiums that will ultimately be paid by the consumer. We already have seven levies on insurance products: 3% on stamp duty; 2% on general insurance; 2% on motor insurance; 1% on life insurance; additional stamp duty on non-life insurance; and another 3% on motor insurance. Now, the Government is proposing another one to fund a bailout for the industry; not a windfall tax on industry profit to cover costs after the event but a levy imposed on consumers. I ask that the Government get real and rule out this proposal.

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