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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)

Eoghan Murphy: Me too.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)

Eoghan Murphy: We need data on costs.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)

Eoghan Murphy: When will the Injuries Board appear before the committee?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)

Eoghan Murphy: That is next week. Great. I believe its presentation will be a strong one.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Cost of Motor Insurance: Minister of State (7 Sep 2016)

Eoghan Murphy: I have figures with regard to the way in which companies are operating. According to the figures provided to me, they are booking a loss on their motor insurance books. I have requested data from one insurance company that will also help in terms of identifying the increases. As soon as I have received it, and if it is appropriate to do so, I will share it. In the interim, we will share...

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 5:In page 4, to delete lines 18 to 20 and substitute the following:"(2) Notwithstanding section 2, no decision under the terms of the Loan Facility Agreement to vary the sum specified in subsection (1) shall be made without the prior approval of both Houses of the Oireachtas.".

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 7:In page 4, line 23, to delete "6” and substitute "7(2)".

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 8:In page 4, between lines 34 and 35, to insert the following:"(1) In addition to the obligation under the following subsections, the Minister shall, within one month from the date on which a payment of a sum under section 4 of the kind referred to therein is made to the Single Resolution Board, cause a statement of the amount of the payment to be laid before Dáil...

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 9:In page 5, to delete line 8 and substitute the following: “(ii) the period in any year after 2016 from 1 January to 31 December, or”.

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 10:In page 5, to delete lines 12 and 13 and substitute the following: “of the first-mentioned period in this paragraph).”.

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: In response to Deputy Paul Murphy, 100% certainty is not possible, but in the unlikely scenario that the funds need to be approved within four days because of the risk to depositors and small businesses, there is a greater degree of certainty in having the Minister as the final check. This is the approval by the Oireachtas. This is the Single Resolution Fund, which we have signed up to....

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I thank the Deputies for their amendments. The issue was debated at length on Committee Stage. Deputy Doherty should note that it is not a question of the risk that we might be sitting at home unwilling or unable to come to the Chamber to make such a decision. It is about giving a higher degree of certainty now that in such an eventuality the funds could be released in a timely fashion,...

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I wish to clarify the point. There is a concern about both the Dáil and the Seanad not sitting because an election has been called and, therefore, it is not possible to recall either. That point still maintains.

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Order for Report Stage (21 Jul 2016)

Eoghan Murphy: I move: "That Report Stage be taken now."

Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Report and Final Stages (21 Jul 2016)

Eoghan Murphy: I move amendment No. 2:In page 4, between lines 11 and 12, to insert the following:“Decisions varying terms of Loan Facility Agreement 3. The terms in writing of any decision (other than a decision referred to in section 4(2)) to vary the terms of the Loan Facility Agreement shall be laid before each House of the Oireachtas as soon as may be after the decision is made and, if a...

Standing Order 149: Motion (20 Jul 2016)

Eoghan Murphy: I thank Deputies for their contributions to the debate on this motion. In wrapping up the debate, it is essential that we acknowledge that the obligation to consult with the European Central Bank on matters in its field of competence is a legal requirement under the EU treaties. As legislators, we must abide by the laws of the land. In a wider sense, it is important that all draft...

Standing Order 149: Motion (20 Jul 2016)

Eoghan Murphy: I move: That, in accordance with the recommendation of the sub-Committee on Dáil Reform under Standing Order 107(1)(a), the Standing Orders of Dáil Éireann relative to Public Business be amended in Standing Order 149 by the insertion of the following paragraphs:‘(3) The Committee Stage consideration of any Bill which falls within Articles 127(4) and 282(5) of the Treaty...

Seanad: Commencement Matters: Motor Insurance (14 Jul 2016)

Eoghan Murphy: I thank the Senator for raising this issue. I welcome the opportunity to discuss in the Seanad the important matter of the cost of insurance and to highlight the actions the Government is currently taking to address the issues. An adequately reserved, cost-competitive insurance sector is a vital component of economic activity and financial stability. The current high cost of insurance is a...

Seanad: Commencement Matters: Motor Insurance (14 Jul 2016)

Eoghan Murphy: The work that will be undertaken on insurance costs fits with the programme for Government commitment to a fairer country and a fairer society in Ireland. I know that is what at the core of the Senator's motivation in raising this issue. Certain groups of people are particularly affected by the increase in insurance costs. I can assure the Senator that the working group, which I will...

Seanad: Summer Economic Statement 2016: Statements (Resumed) (14 Jul 2016)

Eoghan Murphy: I am pleased to be here to discuss the summer economic statement. I thank Senators for their contributions which have been very constructive. The summer economic statement demonstrates that Ireland is moving further along the road to recovery. We have put the public finances on a sustainable footing and restored our competitiveness and are making significant progress in bringing the...