Office of the Director of Corporate Enforcement

Dáil Éireann Debate, Thursday - 14 July 2022

Thursday, 14 July 2022

Questions (187)

Louise O'Reilly

Question:

187. Deputy Louise O'Reilly asked the Tánaiste and Minister for Enterprise, Trade and Employment the estimated cost of increasing funding to the Office of the Director of Corporate Enforcement and the Corporate Enforcement Authority by 50%. [39125/22]

Written answers

Tánaiste and Minister for Enterprise, Trade and Employment

As the Deputy will be aware, the Corporate Enforcement Agency was formally established on 6th July 2022. The new Agency will effectively subsume the Office of the Director of Corporate Enforcement and will have greater autonomy and flexibility in terms of the ability to recruit staff with the necessary skills mix and depth of experience to meet the reinforced mandate of the CEA.

In preparation for the establishment of the new Agency, the overall budget allocation for the ODCE was increased by almost 30% to €7.75 million in 2022.

The table below sets out the estimated costings of increasing funding to the CEA by 50%.

-	REV Allocation 2022(€,000)	50% Increase (€,000)
Corporate Enforcement Agency - C7	7,750	11,625