Dáil debates

Tuesday, 1 October 2013

Ceisteanna - Questions (Resumed)

Financial Services Sector

4:35 pm

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael) | Oireachtas source

I thank the Deputy for the questions. I do not understand why the minutes would be published a quarter of a year later, and we could certainly do something about that. The Strategy for the International Financial Services Industry in Ireland 2011-2016 was produced by the sector and industry and we were happy to launch it on the basis of the assessment that 10,000 jobs could be created. Deputy Martin is well aware of the growth in jobs from the centre's establishment to the current time.

The world is changing at a bewildering speed and, no more than for any other plan or programme, elements must be updated and upgraded on a pretty regular basis. At the May meeting, the Secretary General of my Department, who chairs the group, briefed it on the detail of the work of the Clearing House Group and offered to present further updates to the committee on request. It is only right and proper that people should assess the way this sector is moving, both here and elsewhere. The purpose of the Clearing House Group is to engage both within the sector and in private industry and public bodies in order to improve the environment for investment and job creation. It was agreed that there should be sharper engagement between the public and private sectors within the group, which is why a number of business people assist the three public sector representatives. They met on the two occasions I mentioned.

People might ask whether this is a secret outfit and who is at these meetings. My colleague Deputy Higgins has spoken about secret groups. The group is chaired by the Secretary General of the Department of the Taoiseach and involves the Secretaries General of the Departments of Finance and Jobs, Enterprise and Innovation. The chief executive of IDA Ireland is also involved, along with the chief executive of Zurich, the head of global services at State Street and the country executive for Ireland at Bank of America. These people are involved in examining the programme.

The 2011-2016 programme must be considered in light of changing circumstances to see if further improvements can be brought about. It is not a case of drafting a new programme.

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