Dáil Éireann Debate, Tuesday - 24 July 2018
1244. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 1 of the International Financial Services 2020 strategy; the specific steps taken; the number of persons within IDA Ireland that have been dedicated to this action point; the number employed specifically to implement this action; the way in which this action has changed in view of Brexit; and if she will make a statement on the matter. [33934/18]
View answer1245. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 2 of the International Financial Services 2020 strategy; the specific steps taken; the number of persons within Enterprise Ireland that have been dedicated to this action point; the number employed specifically to implement this action; the way in which this action has changed in view of Brexit; and if she will make a statement on the matter. [33935/18]
View answer1246. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 4 of the International Financial Services 2020 strategy; the actions taken before Quarter 2 2015; the way in which this action has altered as a result of Brexit; the number of international conferences and events that were attended by high level officials each year; the number of international conferences and events that were attended by An Taoiseach, the Minister for Finance, by other Cabinet Ministers and by Ministers of State in each year; and if she will make a statement on the matter. [33937/18]
View answer1247. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the number of secondments established each year since 2015 in relation to action 6 of the International Financial Services 2020 strategy, by Department and State agency and by secondments here and overseas; and if she will make a statement on the matter. [33939/18]
View answer1248. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the representative of the International Financial Services industry on the Export Trade Council in relation to action 7 of the International Financial Services 2020 strategy; when this position was first filled under the International Financial Services 2020 strategy; the periods since the establishment of the International Financial Services 2020 strategy this position has been vacant; and if she will make a statement on the matter. [33940/18]
View answer1249. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation when the first International Financial Services summit was launched in relation to action 9 of the International Financial Services 2020 strategy; the number of International Financial Services summits held in each year since 2015; and if she will make a statement on the matter. [33942/18]
View answer1250. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation when the International Financial Services education and skills liaison group was first established in relation to action 10 of the International Financial Services 2020 strategy; the persons that sit on the group; the number of times the group has met each year since 2015; the specific undertakings the group has undertaken since 2015; and if she will make a statement on the matter. [33943/18]
View answer1251. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation when the first training and future skills needs assessment was published in relation to action 11 of the International Financial Services 2020 strategy; the number of assessments published or brought to her attention in each year since 2015; and if she will make a statement on the matter. [33944/18]
View answer1252. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the specific changes made to the Finuas network since 2015 in relation to action 12 of the International Financial Services 2020 strategy; the way in which this has been changed as a result of Brexit; and if she will make a statement on the matter. [33945/18]
View answer1253. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the steps the International Financial Services education and skills liaison group has taken to raise the profile of International Financial Services career opportunities in relation to action 13 of the International Financial Services 2020 strategy; and if she will make a statement on the matter. [33946/18]
View answer1254. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 14 of the International Financial Services 2020 strategy; the way in which the critical skills list for employment permits has been altered since 2015; if this has changed since the Brexit result; and if she will make a statement on the matter. [33947/18]
View answer1255. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 15 of the International Financial Services 2020 strategy; if a single website portal has been established to attract international information and communications technology talent; the number of visits this portal has received in each year since its creation; and if she will make a statement on the matter. [33948/18]
View answer1256. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 16 of the International Financial Services 2020 strategy; the outcomes achieved under this action point; her plans for the future under this action point; and if she will make a statement on the matter. [33949/18]
View answer1257. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 17 of the International Financial Services 2020 strategy; the number of times Dublin City Council as the Strategic Development Zone development agency, the National Asset Management Agency, IDA Ireland and Enterprise Ireland have met since 2015 in relation to this action point; the specific outcomes reached under this action point; and if she will make a statement on the matter. [33950/18]
View answer1258. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 21 of the International Financial Services 2020 strategy; the number of companies that have engaged each year by technology centre, gateway and strategic research cluster; and if she will make a statement on the matter. [33954/18]
View answer1259. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 22 of the International Financial Services 2020 strategy; the specific undertakings implemented to increase research, development and innovation within existing firms; and if she will make a statement on the matter. [33955/18]
View answer1260. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 23 of the International Financial Services 2020 strategy; the specific undertakings implemented to enhance International Financial Services ICT sectoral collaboration; and if she will make a statement on the matter. [33956/18]
View answer1261. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 24 of the International Financial Services 2020 strategy; the specific domestic or international sources of finance identified for fintech companies; the specific undertakings implemented in order to enhance funding mechanisms for fintech start-ups; and if she will make a statement on the matter. [33957/18]
View answer1262. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 25 of the International Financial Services 2020 strategy; the specific outcomes that have come from this action point; and if she will make a statement on the matter. [33958/18]
View answer1263. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 26 of the International Financial Services 2020 strategy; if an indigenous funds services cluster has been set-up; and if she will make a statement on the matter. [33959/18]
View answer1264. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 27 of the International Financial Services 2020 strategy; if a payments forum has been established; the persons that sit on the forum; the number of times it has met since 2015; if a sectoral strategy paper has been developed; if that paper has been changed due to the Brexit result; and if she will make a statement on the matter. [33960/18]
View answer1265. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the status of action 28 of the International Financial Services 2020 strategy; when this high level group was set-up; the persons that sit on the group; the number of times the group has met each year since 2015; the specific outcomes from the group that have occurred which have enhanced the capabilities of the business process outsourcing cluster; and if she will make a statement on the matter. [33961/18]
View answerI propose to take Questions Nos. 1244 to 1265, inclusive, together.
In March 2015, the Government launched the ‘International Financial Services 2020 Strategy’ (IFS2020), which is led by Minister of State Michael D’Arcy TD. One of the main deliverables is to create 10,000 net new jobs across the Enterprise Ireland and IDA Ireland portfolios in international financial services over five years from 2015 – 2020. To end-2017 approximately 7,000 net new jobs were created in the sector, placing us on target to create 10,000 net new jobs by 2020. The IFS sector now employs almost 42,000 people across Ireland with 30% of those employed in the sector located outside Dublin.
The initial Strategy document launched in 2015 set out five strategic priorities with 30 specific actions.
This strategy document is available on the Department of Finance’s website at the following link: http://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020.pdf.
The five strategic priorities were:
Strategic Priority 1: Promote Ireland as a location for International Financial Services and world class innovative products and services
Strategic Priority 2: Drive continuous improvement in the operating environment and competitiveness of Ireland's IFS sector
Strategic Priority 3: Drive Research, Innovation and Entrepreneurship in the IFS sector, with a particular focus on financial technology and governance, risk and compliance.
Strategic Priority 4: Develop job-creation opportunities from emerging IFS sub-sectors and new markets
Strategic Priority 5: Data and Benchmarking of Progress
As mentioned earlier, the initial strategy document also laid out 30 specific actions, the status of each of these actions is detailed in the quarterly progress reports published throughout 2015.
The progress reports for Quarters 2, 3 and 4 of 2015 can be found at the following links:
https://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020-Progress-Report-Q2-2015_0.pdf.
https://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020-Progress-Report-Q3-2015_FINAL.pdf.
https://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020-Q4-Progress-Report-2015.pdf.
These progress reports contain much of the information requested in the questions.
On occasion, measures are delayed from one quarter to the next, but generally are completed within the annual period. In instances where actions were not completed within the annual period, they were revised or recast for inclusion in the following year’s Action Plan. To date, all measures for 2015, 2016 and 2017 have been implemented and measures for 2018 remain on track for completion by end-2018.
The IFS2020 Strategy is reviewed and updated annually through the development of annual action plans. Three further action plans (2016, 2017 and 2018) have been published since the initial strategy (and 2015 Action Plan) document, and in total 159 actions have been identified. These annual reviews and the creation of action plans on an annual basis means that the Strategy has an in-built dynamism, allowing it to react to changing conditions within the sector, including changes in the international, technological and regulatory environments. For example, the central theme of the 2017 Action Plan was the planned exit of the UK from the EU.
Action Plans since 2015 can be found at the following links:
https://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020-Action-Plan-2016_0.pdf.
https://www.finance.gov.ie/wp-content/uploads/2017/05/IFS2020-Action-Plan-2017.pdf.
https://www.finance.gov.ie/wp-content/uploads/2018/01/180130-IFS2020-Action-Plan-2018.pdf.
Quarterly progress reports track the progress of measures within the IFS2020 Action Plans and are published on the Department of Finance’s website. The latest quarter 1 of 2018 progress report is available at the following link:
http://www.finance.gov.ie/wp-content/uploads/2018/05/IFS2020-Q1-2018-Progress-Report.pdf.
The Quarterly Progress Reports for Quarters 2, 3 and 4 of 2015 provide information on the status of the Actions in the original plan. However, it has not been possible to gather the updated information requested on the current status of each of these original Actions within the required timeframe.
I have asked my officials to liaise with the relevant lead Departments and Agencies in order to gather and collate this additional information and I will send it on to the Deputy in due course.
