Oireachtas Joint and Select Committees

Thursday, 22 February 2018

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

Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised)

9:30 am

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I do not have the 2017 number. Anything before 2017 would not have been the full year, with Brexit's effect, because there were many conversations that would be required that started and did not finish, and licensing would not be concluded. As I said, we are pleased with where we are. It is important for people, which I am glad the Deputy outlined. It is no longer about the quantum of jobs but the standard and quality of the job. We should move up the value chain. An example of that is Kroll Bond Rating Agency, KBRA, which is the first rating agency to decide to base itself in Ireland. We now have rating agencies coming here too. We now have the largest exchange-traded funds, ETF, sector in Europe. The Deputy knows that aviation is quite strong. We intend to focus on other areas too. The big area I outlined in the 2018 action plan was sustainable and green finance. There is a deficit of expenditure in the area in Europe of approximately €180 billion per annum. That is the number we are short by to decarbonise Europe as we progress into the future.

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