Joan Burton
Question:1729. Deputy Joan Burton asked the Minister for Rural and Community Development when the public banking investigation will be published; and if he will make a statement on the matter. [37769/17]
View answerMonday, 11 September 2017
Questions (1729, 1733, 1737)
Willie Penrose
Question:1733. Deputy Willie Penrose asked the Minister for Rural and Community Development when the public banking investigation will be published; and if he will make a statement on the matter. [37976/17]
View answerJoan Burton
Question:1737. Deputy Joan Burton asked the Minister for Rural and Community Development when the public banking investigation will be published; and if he will make a statement on the matter. [38101/17]
View answerWritten answers
I propose to take Questions Nos. 1729, 1733 and 1737 together.
The 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.
My officials have been working actively with the Department of Finance over the last number of months to progress these commitments. In addition, a public consultation process, seeking views on the community banking model, was launched in early March and ran for four weeks. A total of 16 replies were received from a range of stakeholders and all submissions have been reviewed and considered. My officials, along with officials from the Department of Finance, also met with the Sparkassen Foundation for International Co-operation in relation to the German Sparkassen model in particular and obtained detailed information from that organisation.
The Departmental officials are currently finalising a report on the merits of establishing a local public banking model in Ireland. This work is nearing completion and a report will be submitted to me and to the Minister for Finance shortly. I envisage that the report will by submitted to Government for consideration prior to any decision regarding publication.