Dáil Éireann Debate, Wednesday - 2 May 2018
39. Deputy Joan Burton asked the Minister for Rural and Community Development the engagement his Department has had with the Department of Finance in respect of the public banking investigation; and if he will make a statement on the matter. [18909/18]
View answerThe Programme for a Partnership Government includes a commitment to investigate a new model of community banking for Ireland, including an investigation of the German Sparkassen model for the development of local public banks that operate within well-defined regions.
A project team comprising officials from my Department and the Department of Finance was established last year to progress this commitment. The project team carried out detailed research into the concept of a public banking model, with a particular focus on the Sparkassen model.
In addition, a public consultation process, seeking views on the concept of a community banking model, ran for four weeks. Members of the Oireachtas were also advised of the consultation process. A total of 16 submissions were received arising from the consultation process.
The Departmental officials have finalised their report and have submitted their findings to the Minister for Finance and myself. The report will be brought to Government for approval in the coming weeks.
