Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It is welcome that the Minister raised the issue with the EIB. I have raised it with the governor and there is nothing to prevent the bank from continuing to invest in a non-European Union country. There should be special recognition for the North. It is now accepted across the board that there is a need for an adjustment to the fiscal rules and I encourage the Minister to put the matter formally on the agenda.

Prior to the Minister's elevation I discussed proposals related to Brexit with officials. If the Minister has not seen them, I will send them to the Department again. They concern flexibilities which are possible within the existing fiscal rules and rules on state aid. They also deal with changes that need to take place to the globalisation fund to alleviate distortion as a result of Brexit. A number of practical solutions should be considered and I call on the Minister to raise them, with the other things bring raised by the Department. I ask him to put forward more concrete proposals at ECOFIN meetings. We saw what the Brits did on fishing rights and time will slip away from us unless we start to make a stronger case on these matters.