Member

However, we are stuck with the tariff now as a result of the Act. Its introduction was intended to save money, with lower costs for insurers, which were said to be likely to produce lower motor insurance premiums and a saving to the consumer accordingly. We were promised details from the Treasury on both the extent of the savings and the degree to which they had been passed on to consumers in the form of lower premiums, originally at the beginning of last month and then by the end of it. To the best of my knowledge, we have not yet had that information, certainly not in any detail. It would be interesting to hear from the Minister anything about how large the savings have been and how much of that has been represented by savings to consumers in the form of lower insurance premiums. Speaking from an entirely unresearched position, I certainly have not noticed that motor premiums have declined—rather the opposite. When may we expect to see the detail, if the Minister cannot give it now?