Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I thank the Senators. I admire the ability of Senator Barrett to look at all the different pieces of legislation that are coming through and to see if there is an opportunity to progress matters about which he feels strongly.Of course he is correct, as is Senator O'Neill, to be concerned about the fact that insurance premia are going up. As Minister who has responsibility for road safety it is a matter I have to be aware of and monitor because people having insurance is an important element in allowing us to deal with the consequences of incidents and collisions on our roads.

The reason I cannot accept the amendments is that my Department does not play a role in many of the matters to which Senator Barrett is referring in his amendment. The Central Bank, which on 1 May took over responsibility under the auspices of the Irish Financial Services Regulatory Authority for the regulation and prudential supervision of insurance companies in Ireland is best placed to deal with these matters in terms of monitoring the costs of insurance, including motor insurance. As this amendment relates to matters that my Department does not deal with, nor does this legislation, I am not in a position to accept the amendment.