Dáil Éireann Debate, Thursday - 27 May 2021
137. Deputy Catherine Murphy asked the Minister for Finance if he will provide a schedule of engagements he and or his predecessor has had with the Central Bank and the Revenue Commissioners in respect of the Immigrant Investor Programme; if he plans to review or perform an impact assessment of the programme historically taking into consideration its impact on the provision of social housing. [29010/21]
View answerI would like to advise the Deputy that the Immigrant Investor Programme (IIP) is not under the remit of the Minister for Finance and is a matter for the Department of Justice. In common with my predecessors as Minister for Finance, I have regular engagement with the bodies referenced, in particular with the Central Bank, on a wide range of issues. My officials are currently reviewing the records of these regular meetings to identify if the IIP was discussed in any of these meetings. However as the request covers a significant time period and the tenure of two Ministers, this exercise is expected to take a some time. In light of this, I regret to advise that it was not possible to provide the information sought in the time available to respond to this Parliamentary Question and therefore I will make arrangements to provide the information to the Deputy in line with Standing Order 42A.
However with regard to the subject matter of the Deputy’s query, I can advise that in late 2013 the former Minister for Finance, in conjunction with the then Minister for Justice and Equality, announced the addition of REIT investments to the 5 investment options already in place under the Immigrant Investor Programme. This was subject to conditions placed on the minimum level of the investment and withdrawal of funds, to ensure alignment with the overall purpose of the programme.
As stated, the Immigrant Investor Programme is a matter for the Department of Justice, therefore any reviews or impact assessments of the programme will be undertaken by that Department. An examination of matters relevant to social housing policy would also be a matter for the Department of Housing and Local Government.
