Vol. 451 No. 6
37 Mr. M. Ahern asked the Minister for Finance the proposals, if any, he has for the continued development of the International Financial Services Centre; if he has satisfied himself with developments to date; and if he will give details of the new entrants in 1995. [6955/95]
I am committed to the continued development of the International Financial Services Centre. The recent agreement of the European Commission to the extension of the marketing deadline, to end 2000, gives us an opportunity to consolidate on the achievements of the centre to date and to continue its expansion over the next six years. There is already a broad spread of activities in the centre but I am mindful of the need, in this continuously changing sector, to respond to developments.
Accordingly, in the forthcoming Finance Bill, I will include measures which will facilitate the ongoing development of the IFSC. My aim is to see a continued concentration on areas of activity that offer sustainable employment, are active and substantive, and are likely to be maintained beyond the year 2005.
One of the chief objectives in setting up the IFSC was to create sustainable employment. Over 400 projects with job commitments of 4,600 have so far been approved. In excess of 2,100 new incremental jobs are now in place with substantial additional employment created in the provision of support services. Indeed, actual employment could well exceed the commitments given.
