Departmental Bodies

Dáil Éireann Debate, Thursday - 16 January 2014

Thursday, 16 January 2014

Questions (62)

Simon Harris

Question:

62. Deputy Simon Harris asked the Minister for Finance the number of quangos, State agencies or organisations under the remit of his Department that have been merged, reformed or abolished since 2011; the details of each of these measures in tabular form; the cost saving or service delivery improvement which has resulted; how many more he expects to be merged, reformed or abolished and the timeline for same; if he will provide a full list of all agencies and organisations under his remit; and if he will make a statement on the matter. [1977/14]

Written answers

Minister for Finance

In response to the Deputy’s question the table gives details of the bodies which come under the aegis of my Department. None of these bodies have been abolished since 2011. The Financial Services Ombudsman is under review for a merger with the Pension Ombudsman.

Bodies under the Aegis of my Department

Name of Body

National Treasury Management Agency *

State Claims Agency ( SCA)

National Pensions Reserve Fund Commission(NPRF)

National Development Finance Agency (NDFA)

NewERA (New Economy and Recovery Authority

Financial Services Ombudsman

National Asset Management Agency

Irish Financial Services Appeals Tribunal

Credit Union Advisory Committee

Credit Union Restructuring Board (ReBo)

Central Bank Commission

Irish Fiscal Advisory Council

Disabled Drivers Medical Board of Appeal

Credit Review Office

Social Finance Foundation

*The NTMA has taken on a range of additional functions since its establishment in 1990. The opportunity is now being taken to simplify and streamline NTMA governance structures. The approach is also in line with the Government’s commitment in the area of the rationalisation of State bodies.

The NTMA was set up to manage the National Debt and this will continue to be a core function. Over the years, additional activities have been awarded to the Agency and some of these were established as legal entities that were distinct from the Agency but which operated through it (i.e. the NDFA and the NPRF). The new simpler structure that is being proposed involves these activities being assigned directly to the Agency under the direction of a new over-arching Board which will be responsible to the Minister for Finance. It is proposed that the various corporate bodies and committees, including the NTMA Advisory Committee, which will no longer be required under the new structure, will be dissolved. No changes are proposed to the existing arrangements in respect of NAMA which will continue to have its own separate board.

Legislation to affect the changes to the organisation structure of the NTMA is being prepared and I expect to be in a position to bring it before the Oireachtas in the first quarter of this year.