The government is backing the Central Bank (Amendment) Bill 2025, originally introduced as a private member’s bill, which will introduce what is being described as a “right to be forgotten”.

The bill provides for the medical history of cancer survivors to be disregarded when applying for mortgage protection insurance.

It aims to ensure that cancer survivors can access mortgage protection insurance on fair and equitable terms.

The government is developing amendments to the bill and is expected to finalise its proposals in the coming week.

Tánaiste and finance minister Simon Harris and junior finance minister Robert Troy issued an update today after meeting with the Irish Cancer Society.

They have agreed that the required remission period to avail of the new right should be reduced from seven years to five years, and the sum-assured threshold should be increased from €500,000 to €650,000.

To future-proof the legislation, a provision will allow for the sum-assured threshold to be reviewed in line with the residential property price index.

Mr Harris said: “The reforms being introduced under this legislation are designed to make a meaningful difference to the lives of cancer survivors and their families.

“A cancer diagnosis should never define somebody’s financial future or inhibit them from owning their own home. For too long, this sadly has been the case.

“Along with [Robert] Troy, I’m pleased today to announce clarity on two important components of the new measures.

“Firstly, the remission period for which cancer survivors can avail of mortgage protection will be reduced from seven years to five. The threshold for mortgage protection insurance will be set at €650,000 and this will be the subject of future reviews.

“I look forward to bringing these measures to government for approval next month and progressing them swiftly through the Oireachtas.

“I’m conscious that these measures have been talked about for many years; Thanks to the work of the Irish Cancer Society and many others, government is now is a position to put them into action.”

Mr Troy, the minister of state for financial services, credit unions and insurance, said: “This is an important step forward in ensuring that our financial system works for everyone.

“It has been a priority of mine to ensure that we go far enough to support as many people as possible, and the reduction to five years from seven treatment-free means that more cancer survivors will have the ability to buy their own home.

“This bill was first introduced by my colleague deputy Catherine Ardagh as a private member’s bill, and I sought to prioritise it as a government bill to ensure it would be enshrined into law as quickly as possible.

“These amendments which I have secured and are being announced today provide certainty for those who have gone through cancer diagnosis and treatment.

“This is legislation which has support across the house, and I look forward to its quick passage for the remaining stages.

“It is important to acknowledge the work of deputy Ardagh who has championed this for many years. It has been very valuable to work with her, as well as the Irish Cancer Society and Insurance Ireland, in progressing this legislation and ensuring it is comprehensive for those who have survived cancer.”

Nikki Gallagher, CEO of the Irish Cancer Society, said: “Today’s announcement is a significant step forward to enacting ‘right to be forgotten after cancer’ legislation.

“More and more people are now surviving cancer, so ensuring survivors can access financial products and services is crucial.

“Listening to the cancer community and working with affected cancer survivors, we launched the ‘right to be forgotten after cancer’ campaign five years ago and we are now one step closer to legislation being enacted.

“We’d like to thank Tánaiste and minister for finance, Simon Harris, minister of state Robert Troy, deputy Catherine Ardagh who proposed this legislation, and all members of the Oireachtas who have supported the legislation on a cross-party basis.

“We look forward to this legislation being enacted as soon as possible so that cancer survivors can begin to feel the benefits of this landmark law change.”