254. Deputy Catherine Ardagh asked the Tánaiste and Minister for Finance to provide an update on the right-to-be-forgotten legislation; when it will be moving to the next stage of the legislative process; and if he will make a statement on the matter. [26611/26]

I am firmly committed to advancing this important piece of legislation which is a commitment in the Programme for Government, and an important measure to ensure fair access to mortgage protection insurance for survivors of cancer. The decision by Government to legislate follows engagement with key stakeholders and reflects the Government’s determination to put existing voluntary protections on a statutory footing and to provide legal certainty, thus ensure uniformity across all market participants.

The Bill builds on the Voluntary Code of Practice, introduced by Insurance Ireland in December 2023, which disregards a cancer diagnosis for the purpose of mortgage protection insurance applications once treatment ended more than seven years before the date of application—or more than five years in the case of those diagnosed under the age of 18.

My Department is working closely with the Office of Parliamentary Counsel to progress the “Right to Be Forgotten” legislation. It is my expectation that the final proposals underpinning this legislation will be brought before Cabinet in the coming weeks. These proposals will provide that the required remission period for cancer survivors seeking mortgage protection insurance will be reduced from seven years to five years, and that the sum-assured threshold will increase from €500,000 to €650,000. A further provision will allow for the sum-assured threshold to be reviewed in line with the Residential Property Price Index, following consultation with industry representatives, regulatory bodies, and other stakeholders.

Once the amendments have been approved by Government, the legislation will then be able to move to Committee Stage. As you are aware Deputy, we are working with you on this Bill, and it is my intention that it will be advanced through the Oireachtas before the summer recess assuming that all of us in the Houses of the Oireachtas work together on this matter. This Bill represents an important step in ensuring fairer and more compassionate access to mortgage protection insurance for cancer survivors and I look forward to engaging with colleagues across the Oireachtas to ensure its timely passage into law.