Jimmy Deenihan (Kerry North-West Limerick, Fine Gael) | Oireachtas source

As the Deputy knows, it is my view that the shared potential of the Bank of Ireland building for specific cultural uses would present a key opportunity, both nationally and in the public realm of Dublin city, to create, with sufficient vision, a central cultural, civic and tourism hub of strategic importance and scale.

As I have said, engagement with the bank on this matter is ongoing, but we cannot set aside the fact that the building remains in the ownership of the bank and is the largest and busiest of all its branches. As such, the proposal to make the building available exclusively as a cultural venue would require the relocation of these services and, therefore, would have significant financial and strategic implications for the bank. In the present fiscal climate, it would be impossible for my Department to finance the purchase cost and required development and running costs to provide for the conversion of the whole building to a cultural venue. Ireland’s rich culture and heritage remains a major driver of inward investment and tourism and I will, therefore, continue my dialogue with Bank of Ireland in the context of exploring all available options.

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