asked the Minister for Industry and Commerce if he is now in a position to publish the recommendation of the Prices Advisory Body on the inquiry concerning motor insurance premiums.
Ceisteanna—Questions. Oral Answers. - Motor Insurance Premiums.
The Prices Advisory Body, as a result of its inquiry into the increases in motor insurance premium rates which took effect on 1st December, 1951, has recommended that those increased premium rates should be reduced by 12½ per cent. from 1st December, 1952. I have accepted the recommendation and the members of the Irish Standing Committee, Accident Offices Association carrying on business in this country have agreed to put the recommendations into operation so far as motor cars and commercial vehicles are concerned. The insurance premiums for motor cycles will be determined by reference to the experience in each individual case. The recommendation by the body took into account the fact that the insurance companies will have the benefit of the present increased rates for a full year from 1st December, 1951, to 30th November, 1952.
Does it follow from the Minister's reply that there will be no retrospective reduction in respect of the last 12 months?
The body informed me that their recommendation took into account the fact that these companies had the benefit of the present rates in this year.
So the public, therefore, will not get any reduction in respect of this year.
Arising out of the report the Minister received, will he not now acknowledge the valuable service the Prices Advisory Body can give to the public when it is consulted?
It took a long time to get this published.
Out of courtesy to the Deputy I held it up for him. Courtesy is my middle name.
That is a rather Delphic observation. It causes universal astonishment to hear the word associated with the Minister.