1. Deputy Pearse Doherty asked the Minister for Finance to outline Ireland’s role in facilitating the sale of Israeli war bonds across the EU; and if he will make a statement on the matter. [28803/25]
Sentiment score: -0.20
Last night, the Government shamefully voted against legislation brought forward by me and Deputy Mary Lou McDonald that would end the practice of the sale of Israeli war bonds being facilitated by the Irish Central Bank. I would like the Minister to take the opportunity to outline to the Irish people the role Ireland has in facilitating the sale of these bonds. For example, what would it mean if the Central Bank did not approve the prospectus relating to such bonds, which, in reality, are not war bonds? A genocide is happening in which, unfortunately, Ireland is now complicit by facilitating the sale of these war bonds.
Sentiment score: -0.10
That is not true. The Minister said there is no discretion for the Central Bank when the information in the prospectus is accurate and it must approve it. That is not the case. What the Minister failed to admit is the Governor of the Central Bank said that there are three ways it can not approve it - one, the information is insufficient in the prospectus; two, the existence of EU sanctions prohibiting the provision of services or assistance in connection with the issuing of securities by the Israeli; or, three, national restrictive measures to the same effect. That is what we are dealing with. The Minister can dance around these words all he wants. For example, he said, "they are not regulated.". Nobody is suggesting these war bonds or genocide bonds are regulated. Nobody is suggesting it is the Central Bank or the Governor who is selling them. It is the State of Israel that is selling them but it cannot sell them without being facilitated by the Irish Central Bank. When the Irish Central Bank approved the prospectus, it approved the prospectus because the Minister's Government will not provide restrictive measures. Those bonds are then not only sold here but throughout Europe. It is shameful what the Minister, Deputy Donohoe's Government has done and even at this stage, he should revisit this issue.
Sentiment score: -0.09
The Minister's response is pathetic. The facts are - and he knows it - the Central Bank has facilitated the sale of Israeli war bonds. That is a fact. Nobody in this House disputes that. The fact is the Governor said that to stop that, he needs national restrictive measures. The fact is the Minister's Government will not do it. Maybe he had another call with an Israeli minister to assure him that legislation would not go through also. Does the Minister remember that call he denied ever happened but it appeared in leaked information from the ministry in Israel? The fact is these war bonds are being sold. The fact is that if it was not for the Central Bank, they would not be able to be sold, not only in Ireland but in other countries throughout Europe. That is a fact. The fact is his Government is allowing that to happen. It is not a minor issue. It is not an issue about words. It is the fact that genocide is happening right before our eyes and the Minister and his Government have made a decision to not intervene in areas where they can intervene and where we have the powers under EU law to issue measures, using the policy exemption, to make sure the free trade of capital can be restricted at a national level.
Sentiment score: -0.14
I did.
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I said that earlier.
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I said that earlier.
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To defend the fact we are funding genocide.
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Pathetic.
Sentiment score: -0.57
I would love to know the Minister's motivation for allowing or for supporting the funding of genocide. That was the issue.
Sentiment score: 0.43
2. Deputy Pearse Doherty asked the Minister for Finance the steps he is taking to address the situation where insurance companies for multiple consecutive years are recording profit margins two or three times the industry average; and if he will make a statement on the matter. [28804/25]
Sentiment score: 0.15
Maybe the Minister's response to this question will not be as pathetic because his words will ring hollow to the children who are being ripped apart in Gaza. The bombs and bullets are funded because Israeli bonds are being facilitated through the Irish Central Bank and he is the Minister of Finance who can actually stop that. It is disgraceful. I am asking the Minister to explain the steps he is taking to address the situation where insurance companies here are recording profits that are multiples of our European competitors.
Sentiment score: 0.15
It was the Taoiseach who referred to that.
Sentiment score: 0.00
As a point of order, the Minister is making accusations against somebody who cannot defend themselves. It was the Taoiseach who made that accusation and I will not accept the Minister calling me a thug or my behaviour thuggish while he protects and defends the situation where Israeli war bonds are here. I will not stand and allow the Minister to suggest that I am thuggish in that manner because we know what this is all about. This is far too important and I will not allow him to characterise my behaviour or standing up for what I believe in that way.
Sentiment score: -0.29
The question I continue to raise relates to when the Government is going to deal with the issue of the costs that people are paying for motor insurance and home insurance and that sports groups, organisations, community groups and small businesses the length and breadth of this State are paying for public liability insurance. The profits being made by the industry are eye-watering. When representatives of the industry came before the finance committee, they told us they would target a 4% to 5% increase; not 4% to 5% over the past ten to 20 years but because that is the industry norm. Insurance premiums have increased and we have seen double-digit profit margins for the past three years. The margins they are making are two and three times the European average. I have supported all the reforms that have been introduced in this House. However, I argued that such reforms cannot be about boosting the profits of the industry; they have to be about putting money back into consumers' pockets. That is where the Government is failing over and over again.
Sentiment score: 0.08
The problem here - and this is not the first time I have highlighted it - is that I, on behalf of Sinn Féin and the Alliance for Insurance Reform, said we needed commitments from the insurance industry that if reforms were introduced, then premiums needed to be reduced. The Minister's former party leader, Leo Varadkar, gave headlines to the newspapers six or seven years ago to the effect that he was giving the insurance industry six months or else. What did he mean by that? Just taking the past 12 months, insurance premiums for motorists have gone up a whopping 9%. Motor insurance is at the highest level it has been in five years. It is more than double the European average. What is driving motor insurance premiums up? There is only one thing: it is profit and corporate greed. The industry is able to do this because the Government is not going to do anything it, despite the words of the former Taoiseach six or seven years ago. There is no stick when it comes to this issue. That is why the insurance companies are taking a hand not only at the Government but at their customers. What is happening is not right. What measures does the Minister plans to take to ensure that these reforms will result in meaningful reductions for consumers as opposed to whopping profits for the industry?
Sentiment score: 0.09
4. Deputy Pearse Doherty asked the Minister for Finance in the context of rising costs and higher prices hitting households, to outline the surplus that the State will run in 2025; and if he will make a statement on the matter. [28805/25]
Sentiment score: 0.01
Will the Minister outline the surplus the State will run in 2025? That is in the context of the Government ruling out a cost-of-living package in the budget. We have heard this from the Minister and the Taoiseach. It is a reflection of a Government that is out of touch and that does not understand the real pressures ordinary people are under. This is despite surpluses of billions of euro being recorded not only this year but in previous years. People are really struggling because the actions of the Government have left them high and dry in some cases.
Sentiment score: -0.13
Some inflation is absolutely beyond our control. Other high prices are as result of price gouging or Government failures. Our pillar banks had combined profits of €5 billion last year, much of that came from the fact homeowners and savers were short-changed. We have double digit rent increases. New rents outside of Dublin are rising by 9% with 12 counties experiencing double digit rent inflation increases. That is because the Government will not enact our legislation to ban rent increases. We have crippling childcare costs despite the Government's commitment to reduce them. We still do not have a plan to do that. The Minister's party promised a plan within 100 days and that is another promise that has been broken. There are eye watering insurance costs and the Government is not doing anything to ensure that savings resulting from reforms are passed on. We have the highest electricity costs in Europe. This is also at a time when we will record significant surpluses in the region of €8 billion to €9 billion each year and the Government is leaving people high and dry because they need support at this time and a cost-of-living package is absolutely necessary.
Sentiment score: 0.05
Yet it was proper for the Minister for Finance to sign off on the first piece of legislation he introduced, which was to give a big increase to junior Ministers and increase the number of super junior Ministers, which is something we are challenging in the courts. Inflation is also caused by the Government. When the Government decided to increase the carbon tax, it put up the price of petrol and diesel. It put up the price of home heating oil and gas, which the Government did last month. These are things that are under the Government's control. When the Government decides not to ban rent increases, inflation goes up and families are under pressure. These are things that could be under control if the Government would intervene. Given that the Government has not taken these measures, families are struggling now. We see from the CSO and from surveys by the Society of St. Vincent de Paul and others that here are many families who simply cannot even put a hot dinner on the table. I ask the Minister for Finance, in the context of recording surpluses in excess of €17 billion this year and next year, that there would be a cost-of-living package, not to spend €17 billion on it but to recognise people have been short-changed by the Government and to recognise there is a need for one in this year's budget.
Sentiment score: 0.09
I do.
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I have.
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I absolutely-----
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No. I did not say that.
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I did not say that.
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