Martin Kenny (Sligo-Leitrim, Sinn Fein) | Oireachtas source

I thank the three contributors for the work they have done on this issue. I have seen their presentation before and I know the potential of such a bank. Unfortunately, it is an idea that has been around for years but it has not progressed. The crisis in the post office network is not something that has arisen in the last couple of months but has been developing for the last 20 years. As things moved forward and as the economy grew, there was potential for the post office network to expand, to do other business and to meet the requirements of a modern society but it was prevented from doing so. That is what has brought us to where we are today. One of the things that An Post was prevented from doing was putting a proper banking system in place. On the proposal from PBFI, the question that Deputy Dooley asked in regard to the timescale for setting it up is pertinent. How much would it cost to set up? What kind of money would be required to make this happen? I assume that what PBFI is proposing is that if the bank is set up, the post office network would act as the front door. It would be to the post office that people in communities would go to carry out their transactions. If that is the case, is additional technology required in the post office network? Would broadband services, which are sparse enough in many parts of rural Ireland, need to be upgraded, for example?