Robert Troy
Longford-Westmeath · Fianna Fáil · Ireland
“Only last weekend, I had the honour of representing the Taoiseach at the commemoration of those who had lost their lives at the Battle of the Somme. The presence of the deputy First Minister of Northern Ireland was a very positive development. I understand that it was the first time she was present in Dublin for that commemoration.”
“People deserve to know and understand not just the aspiration but the implication for their livelihoods, public services and future. Transparency is something I have tried to foster during my term as Minister of State in the Department of Finance. People expect it and are savvy enough to find it themselves.”
“I welcome the opportunity to contribute on this debate on the financial implications of Irish unity. It is fair to say that it is an important discussion and one that deserves to be approached with seriousness, honesty and respect.”
“If we are serious about unity - I believe we all are - we must be equally serious about preparation. That includes asking the difficult but necessary questions, including about the role of the UK in supporting any transition, whether financial contributions over a defined period would form part of any agreement and how the EU could be inv…”
“While many will view these as barriers so as to delay and misinform, we need to realise that our island has overcome its fair share of barriers in the past and we have the capacity to overcome any barriers in the future. What we should be looking at are the opportunities that a united Ireland presents.”
“It can be secured through reassurance, actions and compromise. Deputy Lahart indicated some of the compromises that may need to be considered. From a financial perspective, we need to look for clarity. Some fundamental questions need to be addressed. What would happen to public services? How would taxation be structured?”
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“PR6 represents the largest ever investment in our electricity grid and will see up to €18.9 billion invested by EirGrid and ESB Networks between 2026 and 2030, with a baseline of €13.8 billion guaranteed. PR6 will enable the delivery of major upgrades and developments to the electricity network across the country, facilitating housing growth and heat and transport electrification, all while enabling and driving industrial and economic growth in Ireland. The Government is committed to delivering electricity infrastructure. That is why we are investing €3.5 billion in equity in EirGrid and ESB Networks.”
“The Commission for Regulation of Utilities, CRU, an independent regulator accountable to a committee of the Oireachtas, has responsibility for the economic regulation of the electricity system operators, EirGrid and ESB Networks. System operators are tasked with building, safely operating and maintaining a fit-for-purpose electricity system. Our electricity grid is made up of two interlinked networks, namely, the transmission network operated by EirGrid, which allows us to transport electricity around the country, and the distribution network operated by ESB Networks, which brings power to communities, businesses and homes. In December, the CRU published its final determination on price review 6, PR6, setting out the investment that will take place in our electricity system over the coming five years.”
“I thank the Deputy for raising this important topic. I will outline the ongoing initiatives for developing capacity in the electricity grid and relay the advice received from ESB Networks on the matter received. The Government does not have a role in the delivery of electricity infrastructure on the ground. This is in line with the 2012 Government policy statement on the strategic importance of transmission and other energy infrastructure, which states: "The Government does not seek to direct EirGrid and ESB Networks or other energy infrastructure developers to particular sites or routes or technologies." The Government, however, can assist and is assisting to ensure the right environment exists to enable the delivery of this critical piece of infrastructure.”
“The continuation of this conflict will only exacerbate the existing challenges in the region, deepen division and put more people at risk. Our goal must be to quickly end this conflict and de-escalate regional tensions. This position is consistent with Ireland's long track record of support for international law and the UN. The UN Charter and international law must be upheld by all countries. We hope for a better future for Iran and Iranian people and will work with all partners to support that. Ultimately, the future of Iran must be determined independently by the people of Iran in a way that creates stability in the region.”
“In addition, I restate our grave concern regarding the impact of the current situation on an extremely perilous humanitarian situation in Gaza. Israel has once again interrupted the delivery of food and essential supplies, worsening the dire humanitarian situation in Gaza. Israel must immediately remove all restrictions on aid access and facilitate essential supplies and services in reaching people along the Gaza Strip. We all call on Israel to lift all measures that restrict the daily lives of Palestinians in the West Bank, including the entry of vital supplies. The focus of the international community now must be to call on all sides to exercise maximum restraint and for those with any influence to use it constructively. The risk of the situation in the region escalating further is real and must be avoided.”
“The firing of rockets by Hezbollah is a serious escalation of the conflict and further destabilises an already unstable situation. The security situation in southern Lebanon was already extremely fragile in the face of ongoing Israeli military actions and the following rocket fire from Hezbollah. Lebanon has now been the victim of an Israeli air strike and ground operations. Let me be clear: these Israeli attacks disregard UN Security Council Resolution 1701, are a breach of Lebanon's sovereignty and run counter to Israel's own long-term security interests. Ireland has also been consistently clear that Hezbollah must cease all military activity and demonstrate it is prepared to disarm and cede control of weapons to the Lebanese Government as required under the resolution and the Taif Accords.”
“We also continue to be in close contact with all other EU partners, with a particular focus on identifying opportunities to collaborate and support our citizens. I ask people to bear with us as the Department seeks to manage what is a really complex operation. I pay tribute to all of our officials, particularly those in the embassies across the region, who are working tirelessly in very difficult circumstances to provide consular assistance to those who need it. We should remember that they are working in a security situation that remains very unstable. Aside from the situation in the Gulf states and its consular impact, I echo what was said earlier in terms of our serious concern over how this conflict is now spreading. It is particularly unfortunate that Hezbollah has now joined Iran in the conflict.”
“For those citizens in the region who are concerned that they have not been contacted by officials regarding a flight, or who have not received an update from the airline, I assure them that the Department will continue to offer consular assistance through the consular crisis team and our missions in the region. We will update citizens as soon as we have further guidance. I also stress that it is expected that further commercial options, although limited, will become available in the coming days, targeted at non-residents and those who are in transit. The resumption of commercial routes, however limited, remains the best possible way of ensuring as many of our citizens who need and wish to leave can leave the region. This twin-track approach of planning for assisted departures while remaining in close contact with airlines will continue.”
“A very large number of Irish citizens in the region are already registered on our the citizens' registration platform. I urge those who have yet to do so to register as soon as possible. As this is a fast-moving and unpredictable situation, it is important that citizens register to ensure that they are able to get the latest information available. It is very welcome that one flight was able to leave Dubai yesterday with Irish citizens on board. The news that a first chartered flight for Irish citizens will also depart in the coming days, providing security and operational considerations permit, is also welcome. This first charter will be targeted at Irish citizens currently in the UAE, particularly those who are non-resident, are vulnerable and require assistance most urgently.”
“The attacks by Iran are a complete betrayal, an inexcusable effort to drag them into a conflict in which they are not involved. The Minister, Deputy McEntee, has spoken to a number of her colleagues in the region to express her sympathies and support. As mentioned, many of these countries are home to large Irish communities, with more than 20,000 Irish citizens living in the Gulf region. The outbreak of violence has therefore presented Ireland with an extremely complex consular situation. I echo what the Minister stated earlier, in that the number one priority of the Department of foreign affairs right now is supporting our citizens in the region and their families. Our officials, including those in the region, are providing all appropriate consular assistance to all citizens who need it, including in regards to travel.”
“The UN system, however imperfect, is an essential security asset for small states, including Ireland. If the UN fails, it is because member states do not empower it to act. As conflict has now broken out, we are faced with a situation that has rapidly escalated within a period of just a few days, bringing greater risk and suffering to the wider region. In particular, the attacks by Iran on countries in the Gulf are a matter of serious concern. We have seen Iranian attacks on airports, residential buildings and energy infrastructure in other Gulf countries. Attacking civilian infrastructure is unacceptable and inexcusable, especially as these states are non-belligerent. They are very clear violations of international law. Let us remember that the Gulf states have advocated for dialogue with Iran and have sought to prevent war.”
“Ireland's position on the use of force where there is no UN mandate or authorisation is well established and known. For fear that anyone is in any doubt, let me be clear: it is wrong and it is illegal. Ireland's position is equally clear that all states must abide by international law and the principles of the UN Charter, regardless of who the states involved are. International law and international humanitarian law cannot be set aside, regardless of how abhorrent the Iranian regime has been. Let the Government's position be very clear on this. As in any conflict, all parties must abide by their obligations under international law, including international humanitarian law. Attacks on civilians or civilian infrastructure, wherever they are, are violations of international law.”
“Even now, the international community is right in calling for an immediate de-escalation. We were under no illusions about the nature of the Iranian regime. We have repeatedly condemned its malign role in the region, the brutal repression of its citizens and its supply of weapons to Russia's illegal war in the Ukraine. We have been clear Iran cannot be allowed to develop nuclear weapons but the unsanctioned response is equally wrong. I was always brought up to believe two wrongs never make a right. Our position is that the best way to address concerns is through dialogue and diplomacy, however slow or frustrating progress may be. We have instead been faced with actions from multiple parties that have further undermined essential principles of the UN Charter and international law.”
“It also supports broader provision of consular assistance. I thank all Deputies for their sincere and heartfelt contributions to what is, once again, an extremely difficult debate taking place against a backdrop of ongoing violence following military action by the United States and Israel against Iran and Iran's military action in response. It is clear from contributions that we are all extremely alarmed at the rapid escalation of the conflict in recent days. It is heartbreaking to see a region, parts of which have suffered so much in recent years, plunged once again into such violence. One of the most shocking and horrific scenes thus far was the attack on a school and the loss of innocent young lives. Given the stakes involved, it is profoundly wrong and extremely regrettable that more time was not allowed for dialogue and diplomacy.”
“I am glad to have the opportunity to respond on behalf of the Government to statements on the consular aspect of this crisis. It has been a deeply frightening and uncertain time for citizens who are resident in the region and those visiting or transiting through the region. It is clear all Deputies share my deep concern for the safety and well-being of our citizens. The work of the consular crisis centre in responding to citizens and supporting embassy personnel across the region has been vital. This crisis response will continue at scale for as long as it is required. The expansion of the embassy and consular network over the lifetime of the Global Ireland strategy means we have a strengthened presence across the globe. This enables us to promote and defend Irish interests and values.”
“It can provide framework, as the Deputy alluded to, for ordinary savers to benefit from the opportunities available through participation in the capital markets, but we must get the detail right. Those details are within the funds review recommendations. As a Government, we cannot be looking for reviews only not to implement their findings. The roadmap on taxation of retail investment will be published shortly and will set out the intended approach to encourage retail investment in Ireland, including consideration of savings and investment accounts. I expect further discussions will be had on savings and investments as the development of a new approach to taxation of retail investment proceeds. I look forward to continuing engagement with the Deputy on these issues.”
“I thank the Deputy again for the opportunity to discuss this important topic. While the Deputy's question focuses on one aspect of the current tax regime, it is clear that the overall approach to taxation of retail investments needs to be considered. Stakeholders including individual investors and industry participants have made their position on the current approach, including deemed disposal, clear. Capital markets provide an opportunity for savings to be more productive for both the individual and the wider economy. Taxation plays an important part in what has to be considered when looking at how to encourage retail investment. As I alluded to in my opening remarks, the Department of Finance is closely examining the concept of a savings and investment account.”
“I have no doubt that a supplementary item on the agenda will be how we mobilise people to look at better returns on their savings. It is a concept that is easy to announce for headlines but the devil will be in the detail. Any product or package we introduce must be attractive, simple and something that the people want to participate in. It is vital that we get this right.”
“Budget 2026, in addition to reducing the rate of tax that applies to these forms of investment, included a commitment to publish a roadmap for the taxation of retail investment as included in that funds review. The roadmap will set out an approach to simplify and adapt the tax framework to further support retail investment while applying necessary and important anti-avoidance protections in a proportionate manner. It is expected to be published shortly. There was also a commitment in budget 2026 to launch a forum looking specifically at a savings and investment account product. That forum will kick off later in March, convened by the Tánaiste and me. Later this week, I will convene a round table with senior industry leaders to discuss the Ireland for finance strategy.”
“That is something we are going to have to ask Revenue to figure out and come back with the precise details. However, I do believe we need to start thinking about the cost of not doing something and the opportunity missed out on. More favourable tax drives economic activity. Prior to budget 2026, I advocated strongly to our then Minister for Finance, Paschal Donohoe, that deemed disposal be removed in its entirety and that we reduce the associated tax rate to be in line with our capital gains tax rate. I accept it was easy for me to say, as I was not framing the budget, and a Minister for Finance has competing demands. To his credit, he did signal elements of the funds review recommendations to be actioned.”
“The deemed disposal rule is a part of the current taxation regime for investments in Irish-domiciled investment funds and life assurance products, as well as equivalent offshore funds and certain foreign life assurance products, and generally applies to ETFs, as Deputy Dolan has said. Under deemed disposal, tax is levied eight years after an investment is made and every subsequent eight years, regardless of whether a disposal has in fact occurred. The tax is levied on any gain in the value of the investment from the date of acquisition to the date of the deemed disposal. On the ultimate disposal of the investment, any tax paid is allowed as a credit against the final tax liability. Surprisingly, I must admit that as it stands now, we do not have a full, clear picture of exactly how much deemed disposal generates annually in tax.”
“I thank Deputy Dolan for raising this important issue of supporting savings and investment. I fully agree with everything he has said. We need to look at areas where we can incentivise wider participation in retail investment and to activate the €170-odd billion that is sitting idly on demand deposits in this country. According to the Central Bank of Ireland’s retail investor participation report, published in December of last year, Ireland has one of the lowest levels of direct retail participation in capital markets in the EU. Encouraging retail investment is set out in the programme for Government and is consistent with the work at an EU level on the savings and investment union. Ireland will be taking a leadership role in this regard during our Presidency of the EU Council later this year.”
“I am meeting the Minister of State, Deputy Cummins, on this issue next week to see how we can bring about the relevant changes that are needed to ensure insurance companies come to the table and respect and acknowledge the fact that this State has expended tens of millions of euro putting in permanent flood defence barriers and, at the same time, they are not willing to take on the risk in those areas. That is something we need to look at, but that stakeholder group will be convening next month to explore the proposals from the insurance industry in relation to flood insurance into the future.”
“I would love to think that the insurance companies would help with flood prevention mechanisms, but I do not think that is realistic. The challenge and the frustration of Government, and I made this point in reply to a previous question, is that insurance companies have not responded positively where the Government has expended large sums of money installing permanent flood defence mechanisms and where policyholders in those areas are still finding it difficult to obtain insurance. I met the Minister of State, Deputy Moran, on this issue today.”
“My Department is working with the OPW, the insurance industry and the Central Bank to bring forward a proposal. I met with a representative of the insurance industry flood task force, and they have given a commitment that they will bring forward a proposal from the insurance industry within the next number of weeks, at which stage we will review it within the Department, working with the Central Bank and the OPW.”
“I thank the Deputy. I will need to ask the insurance industry about that specific question he raised regarding how a previous flood claim may exclude people from future cover. I cannot quantify if that has happened in the past, and, if so, in how many instances. I will undertake to get that information and relay it to the Deputy. It is a problem. We mentioned in previous replies that approximately 5% of buildings are excluded from flood insurance because of previous floods or because they have been identified in a flood risk map as potentially flooding in future. That is why one of the priority actions in the action plan for insurance reform is a commitment to develop a long-term strategic approach to the provision of flood insurance.”
“Claims teams and emergency assistance services are fully operational and insurers are actively monitoring claims as they come in. Insurance Ireland’s insurance information service has also been available to assist members of the public who may need additional support or help navigating the claims process. My Department will continue to engage with Insurance Ireland concerning the recent storms to ensure insurers remain focused on processing claims fairly and efficiently and on working closely with service providers to expedite assessments and repairs. These matters remain a priority for this Government and efforts continue to be made to progress a responsive approach from the insurance industry.”
“For both storm events, Insurance Ireland advised that in advance of each storm, the insurance companies took preparatory measures such as informing the public on their websites and social media platforms and activating surge plans in anticipation of the increased call volumes. The insurance companies were well prepared and were actively assisting their policyholders. For the most recent storm, Storm Chandra, Insurance Ireland has advised my officials that it is too early to quantify the overall cost of damage arising from the storm. Clean-up and assessment work is ongoing, and a clearer picture will emerge over the coming weeks. Insurers have resources in place and are on hand to support any homeowners or business owners who have unfortunately experienced flood or storm-related damage.”
“First, I would like to acknowledge the serious damage caused by recent storm events, and the impact they have had on families, communities and businesses. In the aftermath of Storm Bram and Storm Chandra, I engaged with Insurance Ireland, the representative body for the Irish insurance industry, regarding the insurance sector’s response to claims and reiterated the Government’s expectations that insurance companies should treat policyholders fairly and expediently in the context of claims relating to Storm Bram. Insurance companies actively track storm events to ensure adequate readiness and resource allocation.”
“I do not have the figures to hand but in the 12- to 18-month period after the introduction of the voluntary code, something in the region of 1,200 people benefited. It is a really significant improvement and I hope to be in a position to bring the Bill to Committee Stage within the next two months.”
“To be fair to the insurance industry, and we quite frequently stand to criticise it, providers introduced a voluntary code of practice in this area back in December 2023. It was on the back of that voluntary code that we were able to see the difference the right to be forgotten makes to cancer survivors. We have brought forward provisions in the Central Bank (Amendment) Bill 2025 to put that voluntary code on a statutory basis. It is my intention to bring the Bill to Committee Stage within the next couple of months at the very outside. It will make a very real and meaningful difference to people who have survived cancer diagnoses and come out the other side by ensuring they are able to get on with their life and avail of a mortgage.”
“Were it not for some of the actions introduced by the previous action plan, we would have seen significant increases in recent years as a result of market conditions.”
“We have seen an increase in car insurance in the past 12 months but that came on the back of reductions over the previous number of years. The previous action plan delivered savings in the motor insurance industry in particular. I acknowledge that some of those gains have started to be eroded. That is why there was a need to introduce a further action plan to continue to build on the progress of its predecessor. The Central Bank collates insurance data on an annual basis, which it makes available. That is how we can track what progress is being made in terms of how insurance premiums were decreasing for a number of years but, sadly, have increased in the past 12 to 18 months.”
“Meetings have taken place with insurers to address capacity issues. The office has established a speciality forum to explore the speciality insurance sector and examine how Ireland can be effectively positioned and promoted as a leading jurisdiction for speciality insurance business. My Department is also working closely with the Office of Parliamentary Counsel to the Government to progress the right-to-be-forgotten legislation to ensure fair access for cancer survivors to financial services, specifically mortgage protection insurance, and to allow the Bill to progress in the coming weeks. The Government is firmly committed to addressing the cost and availability of insurance through implementing the reforms set out in the programme for Government and the Action Plan for Insurance Reform 2025-2029.”
“The Action Plan for Insurance Reform 2025-2029, published in July 2025, is comprised of 26 actions being led across a number of Departments, ten of which are priority actions. Of those priority actions, transparency in the insurance sector is a key priority, with a transparency code for the insurance industry well advanced and to be published in the coming weeks. The code will require insurers to provide simple, understandable explanations of how premiums are formed, what mitigating actions may be available to customers and what broader factors influence pricing. It will also ensure consumers can directly receive additional information, upon request, to better understand the factors impacting their premium. Work is ongoing in the office to promote competition in the insurance market to enhance competition.”
“I thank the Deputy for raising this matter. The Government is progressing the commitments in the programme for Government to further reform the insurance sector in Ireland and ensure transparency, affordability and availability of insurance for all consumers. Significant progress was achieved through the 2020 action plan for insurance reform. Key measures delivered included the introduction of the personal injuries guidelines, legal reforms to rebalance the duty of care and the establishment of the office to promote competition in the insurance market. Those actions helped to create a more competitive market and have supported new entrants into the Irish insurance sector.”
“To clarify my remarks in the Business Post , such support will not be exclusively for businesses. Any scheme we look to introduce would be inclusive in supporting both residents and businesses.”
“In relation to the main question, there is an acknowledgement that an intervention is needed. That is why it is one of the priority actions in the action plan for insurance reform. There are ten priority actions. This is one of the priority actions to develop a long-term strategic approach for the provision of flood insurance. That will require working with the Central Bank, insurance industry, Department of Finance and OPW. Today, I met with a representative of the insurance industry who sits on its flooding task force. I expect a proposal to come from the task force within a number of weeks. It might be in a month or so. The Government will explore that proposal and look at what support we can put in place to ensure flood insurance is something people can expect in the not too distant future.”
“I thank the Deputies for raising their points. I do not know whether Deputy Byrne was present earlier when I mentioned that the Cabinet committee on climate action, environment and energy is meeting tomorrow to examine what immediate measures can be taken to protect areas where there is a longer lead-in for permanent flood defence measures to be introduced. In relation to Deputy Callaghan's points on the thatched issue, that is something I am acutely aware of. It is a very niche part of the market. I have been in London meeting insurance companies to explore the possibility of seeing what level of appetite they might have in this regard. I have also met the representative body in relation to the thatched industry. I am happy to engage with the Deputy further in that regard.”
“That is why I met with my colleague, Minister of State, Deputy Moran and I am due to meet with my colleague, Minister of State, Deputy Cummins, next week in relation to outstanding issues with a service level agreement to ensure insurance companies step up to the plate in relation to areas where flood defences have been erected. I will come back in the next reply regarding areas where there are no flood prevention mechanisms in place.”
“-----of providing protection for households and businesses. Speaking to any of the unfortunate householder or businesses in areas where the schemes have been held up for a myriad of reasons over the past number of years, they eagerly await the roll-out of the flood defence mechanisms. It is fair to say that in many constituencies, such as in Athlone in my own constituency, where permanent flood defence measures have been introduced, they have brought a real sense of confidence and reassurance to people who have previously been affected by flooding. It is unfortunate that heretofore the insurance companies have not recognised in a meaningful way State investment in permanent flood defence mechanisms.”
“These matters remain a priority for this Government and efforts continue to be made to encourage a responsive approach from the insurance industry.”
“Flood insurance alone cannot address the totality of the flood protection gap and current Government policy remains focused on the development of a sustainable, planned and risk-based approach to managing flooding. As such, the Government remains committed to protecting Ireland's present and future generations by investing in climate adaption measures to manage the impacts of extreme weather. Accordingly, €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the national development plan to 2030. This will protect approximately 23,000 properties across various communities from river and coastal flood risk. My officials will continue to monitor developments at EU and international level and assess flood insurance matters, including through participation in the OPW and Insurance Ireland working group.”
“With respect to action 17 of the action plan, the Department of Finance is currently engaging with multiple stakeholders on the development of a long-term strategic approach to the provision of flood insurance to consider potential solutions specific to Ireland to increase the availability and affordability of flood insurance. An update on this work will be provided at the next Cabinet subgroup on insurance reform. This work builds on the extensive research undertaken by the Central Bank of Ireland into the nature and scale of the flood protection gap in Ireland, which I mentioned earlier identified a flood insurance protection gap of approximately 5% of buildings in Ireland that have limited access to flood insurance.”
“I thank the Deputy for raising this matter again. I acknowledge that he has engaged with me on this on a number of occasions. I reiterate my earlier acknowledgement regarding the serious damage caused by the recent flood events and the impact they have had on families, communities and businesses across Ireland. As previously stated, insurance reform, including increasing the affordability and accessibility of insurance, including for flood insurance, remains a key priority for the Government. Building on the work carried out by the Central Bank, the Action Plan for Insurance Reform 2025-2029 includes four specific actions on flood and climate protection.”
“The Department of Finance explored that scheme back in 2016 but at that time it was felt that it was not a good fit for Ireland. However, in the context of the new action plan on insurance reform, the Department is re-evaluating that scheme, as well as looking at other international models to see how they can feed into the work that is ongoing here from an Irish perspective. The Central Bank, the Department of Finance, the OPW and the insurance companies, through Insurance Ireland, are coming together in March to examine what options we can look at implementing from an Irish perspective that will fit our model here.”
“The Deputy mentioned particular areas where flood defences have been put in place but flood insurance cover remains problematic. That is a big concern because the Government has invested tens of millions of euro in permanent flood defence mechanisms but the insurance companies have not responded adequately. I met the Minister of State, Deputy Moran, earlier today and am due to meet with the Minister of State, Deputy Cummins, next week to discuss ensuring that outstanding service level agreements that are in place are adhered to in order to give insurance companies confidence to come in and provide insurance where the State has made the necessary investment. The Deputy also mentioned Flood Re, a scheme that is in operation in the UK.”
“Taking a long-term, strategic approach to the provision of flood insurance will involve building on the work that has already been undertaken by the Central Bank, as well as working with the insurance industry, the Department of Finance and the OPW to design a scheme that will be fit for purpose for Ireland. The insurance industry has already established a flooding task force. I met a member of that task force earlier today who informed me that it will have proposals for consideration by Government in the next number of weeks. Work is well under way in terms of addressing the flood insurance gap that currently exists.”
“I thank Deputy McCarthy for making those very clear and valid points this evening. The Tánaiste has just reminded me that the Cabinet committee on climate is meeting in the morning and one of the items on the agenda is consideration of what interim measures can be introduced in advance of permanent flood defences going in to particular areas. We need to speed up mitigation measures in areas such as those mentioned by the Deputy. I reiterate in relation to the action plan on insurance reform that there are ten priority actions, one of which is in the area of delivering flood insurance to fill the gap that is there.”
“This work will build on the extensive research undertaken by the Central Bank of Ireland into the nature and scale of the flood protection gap in Ireland, which identified that approximately 5% of buildings in Ireland that have limited access to flood insurance. We know that flood insurance alone cannot address the totality of the flood protection gap, which is why the Government remains focused on the development of a sustainable, planned and risk-based approach to managing flooding. We are investing in climate adaptation measures to manage the impacts of extreme weather, to protect Ireland’s present and future generations. A total of €1.3 billion has been committed to the delivery of flood relief schemes over the lifetime of the national development plan to 2030.”