Dáil Éireann Debate, Tuesday - 27 September 2016
156. Deputy Joan Burton asked the Minister for Finance the discussions his Department has had with an organisation (details supplied) regarding the establishment of a local public banking network; and if he will make a statement on the matter. [26546/16]
Amharc ar fhreagraIn 2015, Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking Forum of Ireland, submitted a proposal to the Department of Finance regarding the development of a local public banking system in Ireland. This proposal was considered in detail by officials in my Department and there was engagement with Sparkassenstiftung für Internationale Kooperation, the Public Banking Forum of Ireland and Irish Rural Link on the issue.
The current Programme for Government contains a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions. The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs are the lead department in respect of this commitment and therefore have primary responsibility for this matter. Minister of State Murphy, along with officials from my Department, recently met with Sparkassenstiftung für Internationale Kooperation and Irish Rural Link and advised them that, in the first instance, they should make contact with the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs as the lead department on this matter.
