Wednesday, 20 May 2020

Questions (60)

Carol Nolan

Question:

60. Deputy Carol Nolan asked the Minister for Finance if his Department has engaged the use of external consultants from 1 January 2020 to date; the details and costs of such engagements; and if he will make a statement on the matter. [5530/20]

View answer

Written answers (Question to Finance)

My department regularly publishes details of consultancy expenditure on its website, most recently for Q1 2020.

The following table outlines the detail and costs of my department’s engagement of external consultants from 1 January 2020 to date.

Supplier:

The details of such engagements:

Costs:

Indecon International Economic Consultants

This payment is for an independent report conducted by Indecon entitled the Evaluation of Concept of Community Banking in Ireland.

The report  concludes that there is no business case for the State to establish a public banking system in Ireland, supporting the outcome of a previous report on this issue published by the Department of Finance and the Department of Rural and Community Development in 2018.

133,393.50

Fitzpatrick Associates

Credit Demand Survey

The bi-annual Credit Demand Survey is an independent and statistically significant report into the Irish SME landscape and the availability of, and demand for, credit. The full cost of the survey is recouped from participating banks.

73,738.50

Language Communications

This payment is for hosting the www.switchyourbank.ie website for 2020. 

The Switch your  Bank campaign is a public awareness campaign to raise awareness and promote customer switching of financial products and is facilitated by the Department of Finance as part of its remit to ensure that consumers are protected within the financial sector in Ireland. The cost of the Switch your Bank campaign is fully recoupable by AIB and Permanent TSB in the context of their restructuring plans.

2,066.40

A&L Goodbody   Solicitors

Legal advice

15,990.00

William Fry

Legal advice

117,374.60

William Fry

Legal advice

8,601.39

 

Total

351,164.39

Supplier:

Consultancies engaged but not completed/invoiced yet

 Cost

RSM Ireland

 Liquidation cost/outcome review

Nil to date

NM Rothschild & Sons Ltd

To act as independent Financial Advisor in relation to the State’s remaining banking investments.

Nil to date