Feargal Quinn (Independent) | Oireachtas source

The other day I introduced the topic of motor taxation, motor insurance, NCT testing and the labels we have to stick in the windscreens of our cars, which appear out-of-date and old-fashioned compared to what more modern countries are doing. Interestingly, the British introduced that system today. From midnight last night, drivers are no longer required to put stickers on their windscreens because everything will be registered and read from a distance by the police force there. It appears to be a simple system, although I gather they are having some difficulties with it in Britain. Given that it is capable of being implemented and has been introduced in other countries, however, it is something we should consider here.

I am usually opposed to more regulation and controls. In the case of crowd funding, whereby small businesses can avail of opportunities to secure loans from people with small amounts of money, such as €50 or €100, on which interest is paid, this is a system which has worked very well. I have been involved with one crowd funding operation, Link Financial, and it has done a world of good for a number of SMEs. However, there is a reluctance on the part of the public to get involved because it is not controlled. It is openly unregulated. This is one of the few occasions when I suggest that we should have more regulation rather than less. The idea is to encourage citizens to lend to small businesses and get a reward for doing so. The system has worked very well in America and it is working quite well in Britain. I think it would work well here. The companies that have become involved with the system have been very happy with it. All we need to do is to encourage more to get involved.