Dáil Éireann Debate, Tuesday - 17 January 2017
309. Deputy Joan Burton asked the Minister for Finance the status of his Department’s work with the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs in the investigation of the establishment of a public banking system here; and if he will make a statement on the matter. [1684/17]
Amharc ar fhreagraThe 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. As the Deputy will be aware, the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs (DAHRRGA) has primary responsibility for this commitment.
Officials from my Department met with officials from DAHRRGA in late 2016 and following this meeting, DAHRRGA are developing a programme of work to examine the feasibility of the Sparkassen model, as well as other models of local public banking. The Department of Finance will provide input, assistance and support to DAHRRGA as it continues to investigate the potential of public banking.
