Dáil Éireann debate -
Wednesday, 5 Jun 1996

Vol. 466 No. 4

Written Answers. - International Financial Services Centre.

Charlie McCreevy

Question:

28 Mr. McCreevy asked the Minister for Finance the plans, if any, he has to ensure that the International Financial Services Centre is at the centre of Government financial policy-making; and if he will make a statement on the matter. [11591/96]

Minister for Finance (Mr. Quinn)

I can assure the Deputy that the International Financial Services Centre is very much at the centre of this Government's policy on financial matters, as it was for previous Governments. This is reflected in the fact that since the IFSC was established in 1987, successive Finance Acts, including this year's, have included provisions which directly related to the IFSC. The inclusion of these measures in every Finance Act since 1987 clearly demonstrates the importance of the IFSC and highlights the commitment of successive Governments to facilitating the on-going development of the centre with a view to creating further sustainable employment and strengthening the financial services sector.

Also, in order to ensure that the public and private sectors work together in this area, there is a special IFSC clearing house group. This is a high level working group comprising representatives of all the relevant State agencies as well as representatives of the industry. The group is chaired by the Taoiseach's Department, and meets regularly with a view to identifying and dealing expeditiously with any issues of concern which arise in this area.

I think that all of the above indicate very clearly that the IFSC is at the centre of our policies in relation to the financial services industry, and will remain so in the future.