Dáil Éireann Debate, Wednesday - 12 July 2017
261. Deputy Joan Burton asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs if responsibility for the public banking investigation has been transferred to her Department; the date on which the transfer took place; the timeframe for the remainder of the investigation; the date of publication of the final report; and if she will make a statement on the matter. [33524/17]
View answerThe Programme for a Partnership Government envisaged that An Post, the Irish League of Credit Unions and other interested stakeholders would be asked to investigate and propose a new model of community banking, such as the Kiwibank model in New Zealand, which could be delivered through the post office network. The Programme for Government also includes a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.
As I have pointed out in response to previous questions from the Deputy, my Department has been working actively with the Department of Finance to progress the Programme for a Partnership Government commitments.
Specific functions related to rural affairs will shortly transfer from my Department to the new Department of Rural and Community Development under the remit of Minister Michael Ring. I anticipate that responsibility for completing the examination of the public banking model will be transferred to Minister Ring’s Department.
In the meantime, my Department is continuing to work with the Department of Finance to finalise their consideration of the merits of local public banks in an Irish context. I understand that the work is close to completion and a report will be submitted to Government when it is finalised.
