Oireachtas Joint and Select Committees

Thursday, 19 January 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Statement of Strategy 2017: Department of Finance

10:00 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

That is okay. I wish to raise another point. There has been much talk about Ireland's gain from financial services locating here. Figures have been thrown out in terms of the amount of jobs it would create and dramatic numbers such as 20,000 have appeared in the media, etc. Industry sources have told me that the potential for Ireland's gain from financial services is quite less than that. That is their view and it is only a view. I have picked it up from a number of individuals, however, who said it in terms of jobs particularly.

In the context of Brexit, do the delegates believe that the financial services division has the capacity to deal with the relocation of firms from London to Dublin? Going back to resources, is it adequately resourced to deal with the risk and issues such as stability and compliance? Do they believe that the resources are there to deal with what could potentially be a large influx of financial services coming to our capital?

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