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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: Although this is the finance committee we have not dealt in detail with financial services. A number of French Senators came over to visit members of the finance committee. They had been to Hong Kong, Singapore and London and they were coming to Dublin and Frankfurt to examine what was happening and what opportunities they could seek. There appears to be a movement away from passporting...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: I have another question before Oliver Gilvarry intervenes. There is an enormous financial centre in the UK. Is it reasonable or likely to expect that the vast bulk of that will stay in London dealing with EU matters or is that unlikely to be possible?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: It is a worldwide centre now. It is not just dealing with the EU.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: I am talking about the EU chunk of it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: The IMF report that came out recently talks about Brexit being negative and dangerous for the Irish economy. We all knew much of that anyway. Has there been any follow-up with the IMF about what it is saying? Do the witnesses concur with all of it? Do they have issues with it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: Although I am in the Chair, I have to watch my own time. Article 50 has been triggered. It is supposed to be two years. What is our next step on the roadmap?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (16 May 2017)

Gerry Horkan: I thank Senator Burke. I thank Mr. Callinan and all of his team who were with him today, including Ms McGrath, Ms Mulligan, Mr. Irwin, Mr. Martin, Mr. O'Connor, Mr. Gilvarry and the other officials who came with him. I wish them well in everything they are doing, both on their own behalf and, more important, on behalf of all of us. I am sure we will be engaging with them again. I...

Seanad: Criminal Justice (Offences Relating to Information Systems) Bill 2016: Committee and Remaining Stages (16 May 2017)

Gerry Horkan: I concur with Senator Conway. While I am not the Fianna Fáil Party spokesperson on this matter, I spoke on the Bill on Second Stage and listened to the Minister of State's contributions on it. This is timely and welcome legislation. If anything, the events at the weekend have shown how vulnerable our information systems are to attack. Attacking these systems is a lucrative area. We...

Seanad: Criminal Justice (Offences Relating to Information Systems) Bill 2016: Committee and Remaining Stages (16 May 2017)

Gerry Horkan: I sometimes take Fine Gael votes. Horkan is very much a Swinford name and my granny on my mother's side is from Ballina. I wish Councillor O'Brien well.

Seanad: Criminal Justice (Offences Relating to Information Systems) Bill 2016: Committee and Remaining Stages (16 May 2017)

Gerry Horkan: This is a good day and it is good the Bill was passed with unanimous support.

Seanad: Litter Pollution (Amendment) Bill 2017: Second Stage (10 May 2017)

Gerry Horkan: When is it proposed to take Committee Stage?

Seanad: Litter Pollution (Amendment) Bill 2017: Second Stage (10 May 2017)

Gerry Horkan: When is it proposed to sit again?

Seanad: Companies (Accounting) Bill 2016: Report and Final Stages (9 May 2017)

Gerry Horkan: I welcome the Minister. Before we commence, I remind Senators that a Senator may speak only once on Report Stage except for the proposer of an amendment who may reply to the discussion on the amendment. On Report Stage each amendment must be seconded. There are four amendments. The first is amendment No. 1 in the names of Senator Norris and Senator Boyhan. It arises from committee...

Seanad: Companies (Accounting) Bill 2016: Report and Final Stages (9 May 2017)

Gerry Horkan: Senator Norris is still feeling sleepy though.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (4 May 2017)

Gerry Horkan: I propose that we go into private session to deal with some housekeeping matters.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Improving Investment Opportunities in the Wider Economy: Discussion (4 May 2017)

Gerry Horkan: I ask Mr. Nick Ashmore to make his opening statement and then we can have cross-questioning of the two witnesses jointly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Improving Investment Opportunities in the Wider Economy: Discussion (4 May 2017)

Gerry Horkan: I thank Mr. Ashmore and call on Deputy McGrath.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Improving Investment Opportunities in the Wider Economy: Discussion (4 May 2017)

Gerry Horkan: I know Mr. McDowell is under a little bit of time pressure but I hope he is available for a couple of more questions. A number of the bank's projects tend to be cross-Border inter-country projects, such as motorways and bridges. In Ireland's case we are not able to tap into this potential in the same way as other countries because we are an island. Pre-Brexit or without Brexit we might have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Improving Investment Opportunities in the Wider Economy: Discussion (4 May 2017)

Gerry Horkan: If such funding was allocated, was ever used to finance regional airports, Dublin airport or ports? Particularly in the context of Brexit, we need to strengthen our connections with the continent of Europe. With customs and various barriers, potentially using the land bridge to continental Europe that is the UK may be more difficult. I hope not. We may need better capacity to go directly...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Improving Investment Opportunities in the Wider Economy: Discussion (4 May 2017)

Gerry Horkan: In terms of the impact of Brexit, Mr. McDowell referenced that 90% of lending is to the EU and that 160 countries in total have received money from the EIB. Obviously the relationship the EIB may have in future with the United Kingdom as a country depends on how Brexit pans out. How does it work out that it is 90%? What is the barrier to lending more or not lending? Is it that EU...

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