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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: That is exactly what this needs to be. Everybody knows there were fines levied against the banks for the tracker mortgages scandal. That is not the point but it is a good diversion from the Minister. The point is the Central Bank publicly told us all, but more importantly it told the Minister, and he is not a commentator but the Minister for Finance. He is the only person who can bring...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: It was.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: Can I just say-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: I welcome that but I want to make the following point. I was one of the first people to raise the issue of tracker mortgages in this committee many years ago and to call it out. The reason I became aware of the issue is an extended family member of mine was one of the first people to take a case to the ombudsman against Permanent TSB, a bank in which the State owns the majority. I sat in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: The Minister mentioned troll farms in some foreign country, which was beneath him. I have represented those families.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Corporation Tax Issues and General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Minister for Finance (10 Nov 2021)

Pearse Doherty: That is not the point.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: The Minister of State said it is early days in this process. In fact, it is more than six months since the guidelines were enforced. As we see from the information provided by PIAB, it has reduced average awards by 40%, thereby reducing the cost of claims for the insurance industry. The relevant legislation was not passed by all the parties in this House to boost the profit of insurance...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: There is a company in Dundalk about to go bust because it cannot get insurance-----

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: -----and there are many others like it.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: This is what I cannot understand. The Minister of State says he is going to take action against the industry. The Tánaiste talked about it more than a year and a half ago, before the election, saying he was giving the insurance industry six months and that was it, after which the stick would come out. We in this House did our job. Representatives of the insurance industry came before...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: You are misleading the Dáil. That legislation does nothing of the sort. It asks the Central Bank for a report on what it is doing.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: The Minister of State is completing and utterly misleading the Dáil.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: Your legislation does nothing.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: The legislation does nothing. The only power it gives you is to ask for a report from the Central Bank. You could telephone the Governor and ask for the same thing.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: It is an embarrassment.

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: 70. To ask the Minister for Finance the action he will take to ensure that all claim cost reductions derived from the new personal injuries guidelines are passed on to consumers in the form of reduced insurance premiums; and when legislative action will be taken to reform the duty of care. [54657/21]

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (9 Nov 2021)

Pearse Doherty: On 6 March, the personal injury guidelines were adopted by the Judicial Council. They came into force on 24 April, which was more than six months ago. I raised this issue with the Minister on 31 March and I am doing so again because it is important for motorists, businesses and our community sector. The reductions in rewards under those guidelines are not being passed on to consumers in...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (9 Nov 2021)

Pearse Doherty: 68. To ask the Minister for Finance if he will consider providing relief to low- and middle-income households struggling with the cost of energy through an exemption from VAT in respect of domestic energy supplies or a rebate of VAT on domestic energy supplies in the winter months; and if he has or will discuss these matters with the European Commission. [54656/21]

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (9 Nov 2021)

Pearse Doherty: The winter months will pose significant financial challenges for many households, particularly those on low and middle incomes. We see rising prices and a spike in energy costs. More than 35 price increases have been announced by energy providers since the start of the year and annual bills now are rising by between €400 and €500. I ask that the Minister take further action...

Ceisteanna - Questions (Resumed) - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (9 Nov 2021)

Pearse Doherty: In the 12 months to September, the price of electricity rose by 21%, gas by 14% and home heating oil by a staggering 46%. We need to stretch every sinew to protect households from energy poverty this winter. Budget 2022 clearly failed to do that. The Minister has read out a response that is outdated as regards the EU directive. He will be mindful of the toolbox the Commission agreed,...

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