Mr. Máirtín Ó Muilleoir:

I will start by congratulating Deputy Breathnach, who has a very intelligent son who recently graduated from University College, Dublin, I am told. I do not know how I know that but I do, so I congratulate him on the achievement.

Gabhaim buíochas leis an gCathaoirleach agus leis an gcoiste as fáilte a chur rogham. Pléisiúr atá ann a bheith i láthair os comhair an choiste inniu agus ba mhaith liom mo bhuíochas a ghabháil leis an gCathaoirleach agus le na baill eile as an gcuireadh seo a thabhairt dom. Tá Comhaontú Aoine an Chéasta ina bhunshraith ar a tógadh na hinstitiúidí sa Tuaisceart. Is comhaontú é, mar atá luaite ina chéad líne féin, a chuir deis fíor-stairiúil ar fáil le tús úr a bheith ann. Dá gcuirfí orainn an tAontas Eorpach a fhágáil, b’ionann sin agus spiorad agus litir Chomhaontú Aoine an Chéasta a shárú, dar liom.

I thank the Chairman for the invitation.

As we all agree, the Good Friday Agreement is the foundation upon which the institutions in the North were built. It is an agreement which, as stated in its very first line, offered a truly historic opportunity for a new beginning. Forcing us in the North from the EU would breach the spirit and letter of the Good Friday Agreement. For today's conversation I wish to leave party politics at the door. However, as Minister for Finance in the North, my position on the referendum is today as it was before the vote. I thought we should remain in the European Union and I believe it is the only way forward for our people in the North. It is my firm view that it is not economically, financially or socially advantageous for the North to cut itself off from the rest of the European Union.

In terms of the fiscal implications of the referendum, my most immediate concern is that we fully protect the funding we are due to get from Europe. My Department is directly responsible for PEACE IV and INTERREG V programmes worth approximately €550 million or £500 million. Our task is to safeguard the €1.6 billion earmarked for programmes in the North and the Border region between now and 2020. I listened carefully to Senator Black refer earlier to some of the great projects she works with in north Belfast but it is true that PEACE and INTERREG money has been disproportionately channelled towards areas that are underserved. It has gone to the likes of Sandy Row and Tiger's Bay, the Bogside, Creggan and so on in the Border regions. In the round of programmes between 2007 and 2013, projects such as the Skainos Centre in east Belfast - an inspirational cross-community project - the Peace bridge in Derry and the People’s Park in Portadown manifested what the PEACE programme is about and how it can boost and invigorate communities.

The statement from the British Chancellor, Mr. Hammond, in August falls far short of what we wanted to see, particularly with respect to PEACE and INTERREG cross-Border programmes. He gave a commitment that project approvals contracted in advance of the autumn statement, now confirmed as 23 November, will be underwritten by the Treasury. This is insufficient and leaves €1.1 billion, due to be issued post-November, at risk. However, my concern is equally for the €550 million or £500 million earmarked for release before the autumn statement. In that regard, and this is where the rubber hits the road, we have €120 million of letters of offer for cross-Border, transformative job, environmental and health projects log-jammed in the system. There are 17 separate INTERREG letters of offer that have been cleared and are ready to issue. This affects the constituencies we have heard about in Donegal, Louth, Fermanagh, south Armagh and others, as well as health boards on both sides of the Border, for example. InterTradeIreland has extensive programmes for small and medium enterprises that could be affected. The letters of offer are stuck in the system.

The Executive, the Finance Department, the special EU peace body and the INTERREG panels have all stepped up to expedite these funding applications. They have done Trojan work to speed up the process to ensure money is released to the bridge builders, peacemakers and job creators on the ground. However, I would respectfully suggest that their efforts need to be matched by the Irish Government, the British Government and the EU Commission. Notwithstanding the limbo in which we live and the grave difficulties surrounding the EU referendum, all three of those institutions should commit to releasing this €120 million as soon as possible.

From what I have heard, people realise this is not a problem confined to one part of the island and it affects us all. As the Minister for Foreign Affairs and Trade has stated, the Irish Government has a key role to play in the interest of all on this island in the day-to-day dealings with the British Government and the EU side of the negotiating table. The case needs to be made to the rest of the states in the European Union and the British Government that future arrangements must recognise and respond to the unique challenges we face here in Ireland.

Bagairt ar an oileán ar fad a bheadh i dTuaisceart Éireann a tharraingt amach ón Eoraip. Is Eorpaigh muid go léir. Is mian mo chroí é fanacht i gcroílár na hEorpa. Tá súil agam go mbeidh muid ábalta an tubaiste seo a sheachaint agus ina ionad sin a chinntiú go mbeidh meas ann feasta ar thoil dhaonlathach mhuintir Thuaisceart Éireann.

Dragging the North of Ireland from Europe would pose a threat to the entire island. We are all Europeans. It is our fervent wish to remain at the heart of Europe. That is how the people in the North voted in the referendum. It is my hope that, together with our colleagues here today and the Irish Government, we can avert this economic catastrophe and, instead, ensure the democratic will of the people of the North to remain is respected.