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Order of Business (31 Mar 2010)

Brian Cowen: As Members are aware, this is a priority issue. It was hoped that we would have the legislation in this session but I understand we will have it early in the next session.

Order of Business (31 Mar 2010)

Brian Cowen: I will have to check that for the Deputy. I am not aware of the issue.

Order of Business (31 Mar 2010)

Brian Cowen: That is my understanding.

Order of Business (31 Mar 2010)

Brian Cowen: We are not aware of any legislation covering that area.

Order of Business (31 Mar 2010)

Brian Cowen: We are not aware of any problem in that area. Parliamentary questions provide an opportunity for such matters to be discussed.

European Council Meeting: Statements (31 Mar 2010)

Brian Cowen: I attended the meeting of the European Council in Brussels last Thursday and Friday, 25 and 26 March. The Council's formal agenda indicated that discussion would centre on the new European strategy for growth and jobs, and climate change. In the event, and as is often the case with European Councils, the build-up was dominated by a topic not formally envisaged on the agenda. This time, as...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: I propose to take Questions Nos. 1 to 4, inclusive, together. As I stated in the House on 1 December last, my Department has supported the international financial services industry in Ireland since the establishment of the IFSC in 1987 by providing a forum for the exchange of views and the co-ordination of effort through the mechanism of the IFSC Clearing House Group, supported by working...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: As I have explained, the first issue is to undertake a feasibility study to work up this project and to then come in June with the recommendations which will be presented to the IFSC Clearing House Group. That is in place at present and the study, which is receiving support from the various industry associations, IDA Ireland and Enterprise Ireland, will be completed by the end of June, which...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: The Deputy is engaging in semantics. The IFSC banking and treasury group has begun work on bringing this about. We are talking about a report that examines the potential that exists to develop a green IFSC cluster and brand, incorporating green investment vehicles, with the administration of funds managed under green principles, and carbon trading and associated professional services....

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: When the group reports to the Clearing House Group for consideration about the future action that will take place as a result. The work must be done. The potential for this initiative was outlined in the report the Deputy mentioned. Work for future action is now being prepared and put in place and those involved are going about it in a systematic and professional way.

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: Around 25,000 people are employed directly in the IFSC. It has been a very important project that has been resilient, even in the context of the recession and the difficulties in financial services. Employment has been maintained at that level, which is testimony to its resilience and the diverse nature of the work that goes on there. The idea of a green IFSC within the context of what we...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: I am here to reply to questions laid down that relate to the International Financial Services Centre. If the Deputy has any other questions to table regarding any other matters he is entitled to do so. The Financial Regulator has always operated within the framework of EU and domestic law in approving relevant enterprises and products in the IFSC and regulating their operation. Robust...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: The purpose of our action is to ensure a regulatory system that will in future seek to guarantee what happened in the past will not occur again. The independent regulatory system passed here by statute did not meet the requirements of the issue and there are now two reports - one from the Central Bank Governor and one from two eminent persons - which will come before the House in June this...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: I have set out the position on how the issue will be dealt with. In its first stage there will be two reports, which have already been commissioned. Arising from that and a debate in the House we can see what further steps need to be taken regarding a commission of investigation, etc. That is the Government's position and it is the best way to deal with the matter. The regulator was...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: Green financial services already is a growth area in the IFSC at present. The presence in Dublin of international green operations already acts as a catalyst for the indigenous green economy. It is a question of building on what already exists and is about encouraging more of these activities and building clusters of expertise and high-value jobs. It is important that indigenous green...

International Financial Services Centre. (20 Apr 2010)

Brian Cowen: There have been and are instances throughout the country in which financial companies, perhaps having started in the Dublin area, have moved outside for a whole range of reasons, including the location of expertise elsewhere in the country, but also for good business reasons in terms of costs, property costs, etc. There have been instances where this has happened. The whole idea is to have...

Office of the Director of Public Prosecutions. (20 Apr 2010)

Brian Cowen: I propose to take Questions Nos. 5 to 7, inclusive, together. The number of whole-time equivalent staff employed in the Office of the Director of Public Prosecutions on 1 April of this year was 195.52 compared with 196.2 on 1 April 2008. During this period, the number of staff in the directing and solicitors divisions has increased by 5.12 whole-time equivalents while the number in the...

Office of the Director of Public Prosecutions. (20 Apr 2010)

Brian Cowen: I am not in possession of such detailed information. I will be obliged to convey it to the Deputy at a later date. I can inform him that 27 posts were approved in 2007. I will obtain the other information he is seeking.

Office of the Director of Public Prosecutions. (20 Apr 2010)

Brian Cowen: As already stated, 28 permanent posts were approved. A further contract post for the office was provided following a review of staffing requirements at that time. I do not know what was the nature of the original request.

Office of the Director of Public Prosecutions. (20 Apr 2010)

Brian Cowen: The information in my possession indicates that the DPP has intimated to the Department that there are no staffing issues in respect of his office at this time.

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