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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: I thank the Minister of State for his presentation. I am conscious he has been asked a number of questions on competition in the insurance market but that is the issue on which I want to touch. It is welcome that this new office has been established. I am sure the Minister of State has a clear vision for what he wants to come out of the review or the work of that office. Does he accept...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: I heard the Minister of State say this issue has been satisfactorily dealt with in terms of-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: I am dealing with a company involved in adventure services that cannot source insurance here. I am not talking about the ownership of insurance companies that write insurance policies or operate here. I am simply asking about those companies which are regulated by the Central Bank and write insurance policies here. I am less interested in their ownership than that they are regulated within...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: To be clear, the Minister of State does not think there is a problem in sourcing insurance here at present.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: Therefore, there is sufficient competition within the Irish market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: By definition, there would be market failure if there is not sufficient competition.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: On the question of a pooled insurance product, is that a proposal the Minister of State would support?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: The Minister of State’s office intends to try to promote competition and ensure there are greater options for those who are facing very high premiums. Surely that is something the Government-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: It is important to state very serious challenges are faced by a number of social enterprises. There is a horse riding centre in Cherry Orchard and a number of childcare facilities which face this problem. With regard to dual pricing, on which there has been considerable discussion, while there is much outrage and we accept there is a problem, I am not clear what the Minister of State...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: Will work on the legislation only commence upon receipt of that final report, notwithstanding that a report is to be published by Deputy Doherty and that my colleague, Deputy Nash, published a Bill in this space on Monday? It would be useful to get an understanding of the timeline. Will the Minister of State's legislative process and the drafting of his legislation only commence when he...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: So 2022 is the earliest we could expect legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: I know that. I am just surmising based on-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Marie Sherlock: My last question relates to personal injuries. There was a recommendation to establish a specific and dedicated bureau within An Garda Síochána to deal with fraudulent claims. As I understand it, the Government has now decided to train gardaí right across the force to combat insurance fraud. Will the Minister of State outline why this decision was taken as opposed to setting...

Seanad: An tOrd Gnó - Order of Business (15 Dec 2020)

Marie Sherlock: I support Senator McDowell in calling for all in the Seanad to show leadership. All Senators received a letter from my colleague, Deputy Kelly, last week urging them to sign a pledge stating they will take the vaccine. I support the call for a debate in the Seanad with the Minister for Finance on insurance. The findings in the report of the Central Bank are extremely serious. They point...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Marie Sherlock: We are opposing the section and specifically the provisions relating to the retrospective application of income tax to the pandemic unemployment payment, PUP, for the 20 and a half weeks between 13 March and 5 August. Let us be clear what is in question here. The Social Welfare (Covid-19) Act 2020 provides that the PUP is subject to tax from 5 August but it is only now, in the middle of...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Marie Sherlock: I thank the Minister of State for his detailed and considered response. I would like to make three points. It is well within the power of the Government to allow on a pro ratabasis the application of the PAYE allowance and personal tax credit during this tax year. It is within the power of the Government to allow those tax credits to apply against whatever earned income is generated in...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Marie Sherlock: I thank Senators Higgins and Gavan for the earlier support. I thought it was implicit in my comments that I was asking the Government to put forward a recommendation in the context of this Bill coming through our House. Senator Higgins has eloquently articulated how it is well within the power of the Government to bring forward recommendations on Report Stage. I am disappointed that the...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Marie Sherlock: I came into this House to debate respectfully with the Minister of State on a very important issue. It is a source of regret to me as a new Senator that, when a Minister of State has his back to the wall and is looking for arguments, he would seek to attribute to me something that I simply did not say. It is most disappointing that the Minister of State made that comment. I have made my...

Seanad: An tOrd Gnó - Order of Business (8 Dec 2020)

Marie Sherlock: I note the great news coming from Northern Ireland and Coventry in Britain about the first Covid vaccines. It is almost surreal to think that we have reached the point where the vaccine is being rolled out. I note the Government's amendment to the Brexit Bill, which will effectively undo the Labour Party amendment which was not opposed by Government Senators last week. We are deeply uneasy...

Seanad: An tOrd Gnó - Order of Business (8 Dec 2020)

Marie Sherlock: On a point of order, I asked about contract cleaners-----

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