Micheál Martin
Ceist:184. Deputy Micheál Martin asked the Minister for Finance his views on the Irish Stock Exchange; and if he will make a statement on the matter. [45858/13]
Amharc ar fhreagraTuesday, 19 November 2013
Ceisteanna (184)
Freagraí scríofa
The Irish Stock Exchange (ISE) is an important part of the economic and financial architecture in providing a publicly regulated venue by which investors can allocate capital resources to businesses.
A listing on the ISE provides access to an alternative source of funds for a growing business, and the increased visibility that comes from being listed on the exchange increases their potential for further capital investment by investors. These factors are particularly important to SME growth companies that do not have the same visibility or financial options as larger companies.
From an investor perspective, the ISE provides a regulated venue which promotes greater confidence to invest. Additionally, stock exchanges are an important outlet for pension funds and the many people that are invested in them.
From an economic perspective, the ISE along with other stock exchanges facilitate more efficient capital allocation, increased innovation and ultimately employment. Additionally, information from stock exchanges can provide a useful barometer for the overall health of the domestic and international economy and such information is closely monitored by economists as well as financial market participants.
In the recent budget, I enhanced the attractiveness of investing in Irish SMEs listed on the Enterprise Securities Market (ESM), the ISE’s market for SME growth companies, through exempting from stamp duty investor transactions in ESM companies. The supports the implementation of the Government’s Jobs Action Plan 2013 which provides a commitment to incentivise dynamic companies to grow through using the Initial Public Offering (IPO) route as an alternative to a trade sale exit.