Dáil Éireann Debate, Thursday - 22 June 2017
72. Deputy Michael McGrath asked the Minister for Finance if consideration has been made to adjust the mandate of the Central Bank to better enable it to attract financial industries and companies here; and if he will make a statement on the matter. [29404/17]
Amharc ar fhreagraThe Central Bank has a very wide and varied mandate as dictated by the statute of the European System of Central Banks, by the Supervisory EU Legal Acts and by the Central Bank Acts.
The Bank does not have a promotional mandate, as a key component of a successful and attractive jurisdiction for the location of financial services activities is a strong and independent regulator with international credibility.
We already have a significant infrastructure of promotional enterprises including IDA Ireland and Enterprise Ireland under the stewardship of my colleague the Tánaiste and Minister for Enterprise and Innovation.
For all of these reasons, I do not propose to adjust the Central Bank’s mandate to enable it to attract financial industries and companies here.
