Dáil Éireann Debate, Friday - 16 December 2016
307. Deputy Éamon Ó Cuív asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs the progress under the programme for Government commitment of a new model of community banking for An Post and the League of Credit Unions and consideration of the Kiwibank model. [40811/16]
View answer308. Deputy Éamon Ó Cuív asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs the progress under the programme for Government commitment to thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well defined regions. [40812/16]
View answerI propose to take Questions Nos. 307 and 308 together.
The Programme for a Partnership Government envisages that An Post, the League of Credit Unions and other interested stakeholders will 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 a Partnership Government also includes a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.
The role of my Department in this matter will be to work with other Departments and stakeholders to examine the feasibility of these models.
Senior officials from my Department recently met with their counterparts in the Department of Finance and have agreed to develop a work programme to examine the potential of the Sparkassen model and other models of local public banking, as referenced in the Programme for a Partnership Government. The officials will meet again in January and hope to be in a position to conclude their work around the middle of next year. As part of their work, they will engage with relevant stakeholders, as required.
