Dáil Éireann Debate, Tuesday - 20 June 2017
949. Deputy Willie Penrose asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs the discussions her Department has had with a group (details supplied); the technical assistance the group is willing to offer the Government in the establishment of a pilot public bank for the midlands region; and if she will make a statement on the matter. [27634/17]
Amharc ar fhreagraThe Programme for Government includes a commitment to investigate a German model for the development of local public banks that operate within well-defined regions.
As a part of this investigation, my officials, along with officials from the Department of Finance, met with the group referred to by the Deputy on 2nd March 2017. The group gave a presentation outlining the German public banking model and offered their expertise and assistance if the Government wished to develop the model throughout the State.
The engagement with the group in question was just one element of the process of investigating the model of local public banking. A public consultation process on the matter was launched in early March and ran for four weeks, to 29th March. My Department received a total of 16 replies from a range of stakeholders and all submissions are now available on my Department’s website at: http://www.ahrrga.gov.ie/consultation/consultation-on-local-community-banking/.
My Department is currently working with the Department of Finance to finalise a report on the merits of establishing local public banks in Ireland. I anticipate that this work will be completed shortly and a report will be submitted to Government at that stage.
