I propose to take Questions Nos. 1728 and 1736 together.
The Programme for a Partnership Government includes a commitment to investigate a German model for the development of local public banks that operate within well-defined regions.
As a part of this investigation, my officials, along with officials from the Department of Finance, met with the organisation referred to by the Deputy on 2 March 2017. Representatives from the organisation gave a presentation outlining the German public banking model and offered their expertise and assistance if the Government wished to proceed with establishing a similar model in Ireland. An invitation has been extended to the Irish authorities to travel to Germany to obtain further information.
The engagement with the organisation in question was just one element of the process of investigating the model of local public banking. A public consultation process on the matter was launched in early March and ran for four weeks, to 29 March. My officials received a total of 16 replies from a range of stakeholders and all submissions were considered.
My officials, together with officials from the Department of Finance, are currently finalising a report on the merits of establishing a local public banking model in Ireland. Their work is now near completion and a report will be submitted to me and to the Minister for Finance shortly for consideration.
