Oireachtas Joint and Select Committees

Thursday, 29 June 2017

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Financial Services and Pensions Ombudsman Bill 2017: Committee Stage

10:00 am

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

This relates to the establishment day and goes to the core of the legislation outside the most important element, which is consumer protection. This refers to the rationale for merging the FSO and the PO. I will not oppose this but I am not convinced that an argument has been made that this should take place. The Government has relied on the work done by Mr. Richard Hinz as a justification for what is happening. He also stated clearly that there is no compelling evidence of negative consequences as a result of having two separate bodies and given the work both offices do, I am not sure that there is a justifiable rationale for the need to merge them. I would like the Minister of State to outline the rationale.

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