Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Since the decision of the UK to leave the European Union, the contingency planning by international financial services firms has increased significantly given the uncertainty surrounding the eventual outcomes. This planning involves examining current business models and information gathering to assess the potential post-Brexit scenario. As part of this information gathering, many firms have been in contact with Government Departments and agencies and the Central Bank. These engagements with officials at home and abroad have involved firms engaged in a wide range of financial services activities. IDA Ireland, which leads our efforts to attract additional financial services in line with the IFS2020 strategy, has dealt with in excess of 100 queries from businesses about locating in Ireland.

In my role as Minister of State with responsibility for financial services, I have visited London, Asia, North America and other locations on a number of occasions. Furthermore, the second European Financial Forum, which I hosted, was held in Dublin Castle in January to showcase Ireland's offering to an international audience, and highlight the Government's commitment to the development of international financial services. An Taoiseach, Deputy Enda Kenny, provided the opening address. The Minister for Finance, Deputy Michael Noonan, attended the closing sessions of the forum and gave the final remarks. In addition, the Minister for Jobs, Enterprise and Innovation, Deputy Mary Mitchell O'Connor, gave the afternoon ministerial address.

Recently, St. Patrick's Day trade missions saw the Taoiseach, Tánaiste and 27 Ministers and Ministers of State take part in more than 100 business events and high-level political meetings in 27 countries. As part of this, I visited Canada and the Minister, Deputy Noonan, visited Malaysia and Singapore.

Once a relocation recommendation has been made by senior management in a firm, the Deputy will appreciate the board of the firm will have to agree the decision and, in due course, shareholders and current regulators will have to be informed before the actual decision can be made public. Until these steps have been completed, it is not possible for IDA Ireland or, indeed, myself to give any precise information on the potential movers post-Brexit.

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