Eoghan Kenny (Cork North-Central, Labour)
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645. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government commitment to maintain access to cash and support its continued acceptance in our economy; and if he will make a statement on the matter. [41458/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Finance (Provision of Access to Cash Infrastructure) Act 2025 was commenced on 30 June 2025. The Act also brings cash-in-transit providers (CITs) and independent ATM deployers within the regulatory perimeter of the Central Bank of Ireland.

The Act requires me to prescribe access to cash criteria, for each of the eight Nomenclature of Territorial Units for Statistics 3 (NUTS3) regions of Ireland, as defined by Eurostat. The criteria will set out for each region:

• A specified percentage of the population that must be within a specified distance of not less than 5km and no more than 10km of an ATM;
• A minimum number of ATMs per 100,000 people; and;
• A specified percentage of the population that must be within a specified distance of not less than 5km and no more than 10km of a cash service point (bank branches and post offices meet this requirement at present).

Consultation with the Central Bank on both regulations, as required under the Act, has commenced. Following the completion of the consultation, the regulations will be finalised and completed later this year.

The Act requires ATM deployers and CIT providers to be registered with the Central Bank of Ireland and provides the Central Bank with regulation-making powers in relation to matters such as reporting requirements, service standards, and other matters such as denomination stocking.

With regard to the acceptance of cash, the European Commission published a proposal for a Regulation on the legal tender of banknotes and coins in June 2023. The proposal will enshrine the principle of cash acceptance in EU law.

The draft regulation proposed to place an obligation on Member States to monitor and report on the acceptance of cash annually to the European Commission and the European Central Bank. Where a Member State considers that the level of acceptance undermines the mandatory acceptance of cash, it will be required to set out remedial measures it will take in its annual report. The proposal is progressing at EU Council level, and my officials will continue to engage in the discussions. The Danish Presidency has indicated its intention to reach a General Approach on the file during its term.

In addition, In October 2024, the then Minister for Finance, Jack Chambers TD, launched the National Payments Strategy (NPS). The NPS recognises that cash continues to be an important means of payment and store of value for many people. The NPS recommended that all government departments and bodies under their aegis accept a range of electronic and non-electronic payments, including cash. If a body cannot accept cash directly it must arrange immediately for the facilitation of cash payments via third party.

Eoghan Kenny (Cork North-Central, Labour)
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646. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government commitment to publish an Action Plan for Insurance Reform; and if he will make a statement on the matter. [41459/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Programme for Government commits to delivering further action to drive down insurance costs impacting households, motorists and businesses. One of the first steps to delivering this commitment is a new Action Plan for Insurance Reform, which was published by the Government on 24th July.

As part of the development of this Plan, the Department of Finance undertook a wide-ranging public consultation which received over seventy detailed submissions from a broad spectrum of stakeholders. The Action Plan will advance reform under six key themes: transparency and affordability, competitiveness and availability, legal reform, fraud, climate protection, and innovation and skills.

There are ten priority actions in the Plan, focused on areas where the greatest impact on cost and availability can be achieved. These priority actions include a focus on transparency in the sector, legal reform, strengthening the powers and remit of the Injuries Resolution Board, a feasibility study on a cap for certain categories of personal injuries awards and measures to reduce insurance fraud and the number of uninsured drivers.

To ensure that the implementation of the Plan takes a “whole-of-Government” approach, the Government has re-established the Sub-Group on Insurance Reform within the Cabinet Committee on the Economy, Trade and Competitiveness, chaired by An Tánaiste. Membership includes the Ministers for Finance; Enterprise, Tourism and Employment; Public Expenditure, Infrastructure, Public Service Reform and Digitalisation; Justice; the Minister for State at the Department of Finance with responsibility for Financial Services, Credit Unions and Insurance; and the Minister for State at the Department of Enterprise, Tourism and Employment with responsibility Trade Promotion, Artificial Intelligence and Digital Transformation. The Sub-Group will meet on a regular basis to drive this Action Plan forward and consider the progress that each Department is making in implementing the specific actions for which they have responsibility.

In conclusion, Government remains firmly committed to achieving a competitive and sustainable insurance market in which this key financial service is affordable and available to households, motorists, businesses and community organisations right across the country.

Eoghan Kenny (Cork North-Central, Labour)
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647. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government's commitment to engage with the Central Bank to review credit union lending limits to enhance their ability to serve members; and if he will make a statement on the matter. [41460/25]

Ruairí Ó Murchú (Louth, Sinn Fein)
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707. To ask the Minister for Finance the plans to change the operating rules for credit unions such as increasing the lending limits for credit unions; and if he will make a statement on the matter. [43449/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 647 and 707 together.

In January 2020, revised Central Bank Lending Regulations were put into effect on credit union home and business lending. I would like to note that there are no limits on personal lending which continues to comprise the vast majority of credit union lending (approximately 86% as at end March 2025).

Last year, the Central Bank completed a review and an analysis of credit union sector lending three years post-commencement of the amending regulations. This review included significant consultation with credit union stakeholders.

The former Minister of State with responsibility for credit unions and my officials had multiple constructive and open engagements with the Central Bank as part of that review.

In December 2024, the Central Bank published Consultation Paper 159 on Proposed Changes to the Credit Union Lending Regulations (CP159) which sought views on proposals for targeted changes to the credit union lending regulations. This consultation closed for submissions on 11 February 2025.

In accordance with the requirement under section 84A of the Credit Union Act, 1997, the Central Bank is currently completing the statutory consultation process on the relevant draft amending Regulations with myself and the Credit Union Advisory Committee.

The Minister of State with responsibility for credit unions and I both appreciate the importance of these proposed changes to the lending regulations.

Following completion of the statutory consultation process, the Central Bank intends to publish a feedback statement on CP159 and a draft of the amending Regulations.

On the assumption that no material issues are raised and that there are no changes required during the statutory consultation process, the Central Bank expects that the final amending Regulations will come into effect during Quarter 3 of this year.

Eoghan Kenny (Cork North-Central, Labour)
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648. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government commitment to expand the role of Ireland's credit union sector in the housing market; and if he will make a statement on the matter. [41461/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The credit union sector is an important contributor to the housing market in the area of home lending and investment in social housing via the Credit Union Approved Housing Body (AHB) Fund. This is in addition to the provision of personal loans to fund home improvements and retrofit schemes.

Credit union home lending has increased significantly, with 34% year on year growth from March 2024 to March 2025. This growth demonstrates the ability of credit unions to provide home lending/mortgage products and the level of demand from its members.

I expect that credit union home lending will continue to grow significantly in the coming years. This growth could be accelerated by:

1. The provisions of the Credit Union (Amendment) Act 2023, which now permits credit unions to refer, participate or syndicate home loans, thereby increasing access to products for its members.

2. The proposed changes published by the Central Bank under Consultation Paper 159 - Consultation on Proposed Changes to the Credit Union Lending Regulations. The proposed amendments will enable credit unions to provide more home lending to its members.

3. A mortgage Credit Union Service Organisation (CUSO) has been established with a sizeable proportion of the sector committing funding to the project. In 2025, the mortgage CUSO will launch standardised home lending or mortgage products on behalf of the credit union sector.

I also believe that credit unions have a significant role to play in supporting their local communities' social housing needs through the Credit Union AHB Fund.

The Credit Union AHB Fund is a fund that all credit unions can invest their members' savings in should they so choose. The Fund will then provide loan financing to AHBs in respect of completed social housing units. Investment in AHBs is a permitted investment under credit union regulations introduced by the Central Bank of Ireland in March 2018. Under these regulations, it is estimated that over €1 billion can be made available by credit unions to invest in AHBs.

Minister of State Troy has recently held meetings with the Credit Union AHB Fund and sector stakeholders to discuss the levels of investment in the fund and whether any barriers to investment exist. I am informed that credit unions have invested €41 million in the fund to date.

As Minister for Finance, I intend to support the credit union sector to grow their home lending loan book, invest in the Credit Union AHB Fund, and continue its provision of loans for home improvement and retrofits. I will also engage with stakeholders and consider all suggestions to expand the role of credit unions in the housing market.

Eoghan Kenny (Cork North-Central, Labour)
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649. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government commitment to draft a five-year strategy for the credit union sector to ensure it can fully leverage new opportunities; and if he will make a statement on the matter. [41462/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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My officials, together with credit union stakeholders worked collaboratively to deliver the Credit Union (Amendment) Act 2023 (the 2023 Act). The 2023 Act represents a very significant piece of legislation that will have far-reaching positive implications for the credit union sector in the years to come.

The 2023 Act increased flexibility around the common bond, opening up opportunities to expand membership and services with options such as referrals and loan participations. It will also allow for corporate credit unions to be formed. These are credit unions whose members are other credit unions.

The 2023 Act will help the sector, but as outlined in Retail Banking Review, credit unions must develop their strategy and increase collaboration to reach their potential. The Programme for Government has included a commitment to draft a five-year strategy for the credit union sector.

I and the Minister of State intend to co-sponsor a workplan with the credit union sector to determine its strategic purpose and framework. I have instructed my officials to draft a member focussed plan that will be inclusive and owned by the sector.

My officials are actively engaged in developing a programme plan, in conjunction with the sector. I expect that in the short term both I and the Minister for State will have the opportunity to consider this plan and the estimated timelines to delivery of the strategic purpose and framework for the sector.

A sector wide strategic plan and a focused deployment of credit union resources will support the expansion of financial services to all credit union members.

Eoghan Kenny (Cork North-Central, Labour)
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650. To ask the Minister for Finance for an update as of July 2025 on the Programme for Government commitment to legislate for a 'Right to be Forgotten' for cancer survivors, requiring insurers to disregard a cancer diagnosis where treatment ended more than seven years prior to application; and if he will make a statement on the matter. [41463/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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At the outset, I would like to acknowledge the sensitivity of this issue. The Government is firmly committed to advancing this important legislative reform and it is a key commitment in the Programme for Government – Securing Ireland’s Future. I am pleased to confirm that with Government support the Central Bank (Amendment) Bill 2025 passed Second Stage in the Dáil on the 17 July. The Bill will ensure that cancer survivors are no longer discriminated against when accessing mortgage protection insurance.

The Bill, which will require amendment as it goes through the legislative process, builds on the Voluntary Code of Practice, introduced by Insurance Ireland in December 2023, which disregards a cancer diagnosis for the purpose of mortgage protection insurance applications. Once treatment ended more than seven years before the date of application—or more than five years in the case of those diagnosed under the age of 18. The Code applies to mortgage protection insurance policies up to €500,000, has been fully adopted by the eight participating insurers. A recent independent review of the Code’s first year of operation, carried out by Forvis Mazars and published in May 2025, found that the Code is working well and that it has improved access to cover for cancer survivors.

The decision by Government to legislate follows engagement with key stakeholders, including Deputy Catherine Ardagh, who originally proposed the measure, and reflects the Government’s determination to put these protections on a statutory footing. While the voluntary approach has demonstrated a strong sectoral commitment, legislating in the manner that Government intends should provide legal certainty and ensure uniformity across all market participants.

Additionally, there is a need to ensure alignment with EU regulatory requirements, in particular the Solvency II Directive, when bringing forward this piece of legislation. The drafting process is therefore being undertaken with careful consideration of the implications for prudential regulation and the classification of insurance risks, to ensure that the objectives of the Bill are achieved without any unintended impacts on financial stability or market functioning.

In conclusion, our approach reflects Government's commitment that a cancer diagnosis, once an individual has completed treatment and achieved defined recovery milestones, should not be a barrier to securing mortgage protection insurance. Advancing the Bill represents an important step in building a fairer and more compassionate insurance framework and I look forward to working with colleagues across the Oireachtas to ensure its passage into law in a timely manner.