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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: The Minister of State has been at this for a good while and it has been a priority for him within the Department. If we were to ask people out and about whether they have seen any reasonable progress in this area, they would probably answer they have not. They would tell us they still see premiums increasing. Indeed, we had a men's shed group before the committee last week. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: Have we not put that argument to bed? The research done does not show that the level of awards in recent years has increased anywhere near relative to the increases we have seen in premiums. The Minister of State has referred to a high-awards jurisdiction but that was always the case. Yet, premiums have increased numerous times. Let us extend the argument. We heard the most recent...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: I will come to the issue of claims but I will make another comment before I move on from the marts issue. The representatives before the committee last week referred to potential health and safety works that were required. They were carried out in the past by certain marts but the premiums still increased. Following the recent accident in one of the marts, there was a call for substantial...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: Insurance Ireland has particular objections to head 4 of the Bill which was the piece that provided for transparency. It talked about identifying current and emerging trends in the Irish non-life insurance market on an Irish-based risk business. It identified factors that drive movements of price of insurance in the State. All of this will be required to be reported on. There will be a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: No, I am talking about head 4 which requires the Central Bank to publish a report for the purposes of increasing transparency, identifying current and emerging trends in terms of insurance, identifying the factors that drive movement in the price of insurance, presenting statistical analysis of income and costs and presenting statistical analysis of information related to the claims and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: Okay. The other point I wanted to talk about was the motor insurance directive. Last week, the European Commission announced its intention to move ahead with a motor insurance directive that was among its proposals to force insurers to take account of previous driving experience in the European Union. Is there any reason we cannot move ahead and implement this without waiting for an EU...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: We will take that up with that Department. Going back to the insurance database, it is behind schedule. I asked the Minister of State earlier when we are likely to see it up and running.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: I understand the Minister of State does not have the ability to set the agenda of the House in the Business Committee. The Minister for Health stated it is his intention that not only would legislation on access to terminations of pregnancies pass the Houses but also that he hoped legislation on the clinical directions and registration or licensing of the drugs required for terminations...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: When will the Minister of State publish the legislation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: The committee is eager to have the database up and running. We recognise its importance. Having the legislation passed will not make a blind bit of difference until we have the data in the national database and can analyse them. We are very eager to have this proceed, which is why we believe the legislation did not need pre-legislative scrutiny. If the Department is delaying publication...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion (29 May 2018)

Pearse Doherty: That is me finished.

Written Answers — Department of Finance: Tax Code (29 May 2018)

Pearse Doherty: 167. To ask the Minister for Finance the tax exempt status of Irish pension funds that acquire property directly with no tax on the rental income of the pension fund and no capital gains tax were the pension to sell the property and make a gain. [23205/18]

Written Answers — Department of Finance: Tax Code (29 May 2018)

Pearse Doherty: 168. To ask the Minister for Finance if his attention has been drawn to the tax neutral status of a company's (details supplied) rental income from the 262 apartments which it recently purchased in Churchtown, Dublin, due to the fact it is a pension and regulated fund, therefore exempt from dividend withholding tax under the Irish real estate fund regime. [23206/18]

Written Answers — Department of Finance: Irish Real Estate Fund (29 May 2018)

Pearse Doherty: 169. To ask the Minister for Finance the net receipts from dividend wildholding tax from the IREF regime in 2017 and to April 2018. [23207/18]

Written Answers — Department of Finance: Irish Real Estate Fund (29 May 2018)

Pearse Doherty: 170. To ask the Minister for Finance the net receipts from dividend withholding tax from the REIT regime in 2017 and to April 2018. [23208/18]

Written Answers — Department of Finance: Irish Real Estate Fund (29 May 2018)

Pearse Doherty: 171. To ask the Minister for Finance the estimated value of Irish real estate owned by REITs, IREFs and pension funds. [23209/18]

Written Answers — Department of Finance: Home Renovation Incentive Scheme (29 May 2018)

Pearse Doherty: 176. To ask the Minister for Finance his plans with regard to a possible extension of the home renovation incentive; the cost-benefit analysis that has been carried out on the scheme; and if he will make a statement on the matter. [23254/18]

Written Answers — Department of Finance: Home Renovation Incentive Scheme (29 May 2018)

Pearse Doherty: 178. To ask the Minister for Finance his plans to extend the start your own business scheme; the cost-benefit analysis that has been carried out on the scheme; and if he will make a statement on the matter. [23256/18]

Written Answers — Department of Finance: Deposit Interest Rates (29 May 2018)

Pearse Doherty: 177. To ask the Minister for Finance the estimated additional fiscal space that would accrue if the planned reductions to DIRT did not proceed; and if he will make a statement on the matter. [23255/18]

Written Answers — Department of Finance: Real Estate Investment Trusts (29 May 2018)

Pearse Doherty: 183. To ask the Minister for Finance his plans to ensure real estate investment trusts, REITs, do not charge excessive rent given their preferential tax treatment; and if he will make a statement on the matter. [23316/18]

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