Part of Executive Committee Business – in the Northern Ireland Assembly am 12:45 pm ar 17 Mehefin 2024.
As highlighted by the Minister and Committee Chair, the Committee gave the statutory rule careful consideration during a number of meetings. Those included oral evidence sessions looking at annual weekly earnings, the change to RPI and, of course, modifying the standard rate of adjustments. We reiterate the concerns that were highlighted and about which we wrote to DOJ relating to the impact on insurance premiums, as has been stated here. We know that, due to the geographical make-up of the North, insurance is higher here and that that impacts on premium holders. Sinn Féin fully supports the principle of 100% compensation.
The Chair laid out the context: we were limited in what we could do at this time, and a review is pending. Parties and the Committee await the outcome of that review to see what further changes or modifications will be made. We agreed to allow the statutory rule to progress and to publish all the documentation, which went out from the Chair last week, and all the oral evidence. That is now in the public domain for people to look at and see the scrutiny that we applied as a Committee.