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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: When the Brexit process and discussion started, the pitch was made that the UK wanted to stay within the passporting facility. It seems that this has receded somewhat and it is likely that the UK will look for an equivalence agreement of some sort. What would that look like and how would it affect Brexit for Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: Aontaím go huile is go hiomlán leis an bhfinné mar gheall ar infheistíocht. That is one of the areas of joint agreement between IBEC and Sinn Féin. Dr. Regan mentioned that one of the threats is that the UK would nearly become the Switzerland of the north-west Atlantic. If that is the case, strategically, it would be logical for the UK to seek to lock the EU and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: If I could just interrupt, particularly as these deliberations are going to be brought to an end very shortly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: Very good. The witnesses mentioned tax. I would be a very strong advocate for tax justice, which is really important. One of the major difficulties around the world is that push against tax justice. This State's reliance on corporation tax as part of our competitive advantage is a difficulty for us and leaves us overexposed in this space. We need to develop our other competitive...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: To a certain extent, it would be an attack on some elements of our economic model. One of the things that struck me about Dr. Regan's evidence was that the Franco-German strategic alliance is seeking even further integration. Dr. Regan mentioned budgetary offices and so forth. There is a strong feeling throughout Europe that the EU is already over-reaching and that this has led to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: It is taken for granted that the same rules apply in all EU countries regarding the treatment of these potential firms, but rules have interpretation and interpretation leaves space. How do we manage consistency in interpretation across the rules everywhere given that some states have communicated differentials in treatment in the future?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: For every action there is a reaction. The British government must be involved at some level of policy development to try to prevent some of these things happening. Are the witnesses aware of any of that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: I thank Mr. Cross. The presentation referred to the financial stability risks. Obviously, as a country which has gone through the gamut of difficulties in terms of financial stability, what are the financial stability risks? Again, to a certain extent this is all based on conjecture because we have very few hard facts. What financial stability risks would be added to the country in this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: Financial services often create exposures for governments. Much of the focus is on the migration of financial services from London to Ireland. Given the trauma we have just experienced, which of those types of financial stability questions would come our way?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: Okay. My next question is less about conjecture and more about the facts. How many organisations from the London area have been in contact with the Central Bank with regard to financial services?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: Mr. Sibley will not give a figure. Are dozens of firms or more involved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: The financial services sector is an area that is continually evolving and has created certain niches and very specific, focused or specialised areas. It encompasses areas that we in this country have not perhaps had experience of with regard to regulation. With regard to the capacity of the Central Bank to deal with the volume of work that is potentially coming its way and the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (30 May 2017)

Peadar Tóibín: To return to the issues of stability and exposure, the idea that there was a danger that we would end up with a shell-type firm with low value to the economy but high risk was discussed. Is there any way to mitigate it? Firms might move what is necessary to function within the new EU environment and load the exposure or risk to the State, but there would be a very low jobs value or benefit...

Written Answers — Department of Arts, Heritage and the Gaeltacht: Legislative Measures (30 May 2017)

Peadar Tóibín: 377. To ask the Minister for Arts, Heritage and the Gaeltacht the details of her Department’s communications with the European Commission regarding proposed changes to sections of the Wildlife Acts described in the Heritage Bill 2016 [25363/17]

Written Answers — Department of Transport, Tourism and Sport: Public Transport Fares (30 May 2017)

Peadar Tóibín: 580. To ask the Minister for Transport, Tourism and Sport his plans to include rail fares from Enfield, County Meath, in the commuter belt fare area (details supplied). [25357/17]

Written Answers — Department of Transport, Tourism and Sport: Departmental Consultations (30 May 2017)

Peadar Tóibín: 581. To ask the Minister for Transport, Tourism and Sport the consultations that have taken place with the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs regarding the Heritage Bill 2016 and the road safety aspects of same. [25361/17]

Joint Oireachtas Committee on Arts, Heritage, Regional, Rural and Gaeltacht Affairs: Business of Joint Committee (24 May 2017)

Peadar Tóibín: I ask members to turn off their mobile phones because they interfere with the recording and broadcasting meaning that people cannot be heard properly. We will consider the topic of the national spatial strategy for 2002 to 2020 and its successor within the context of the-----

Joint Oireachtas Committee on Arts, Heritage, Regional, Rural and Gaeltacht Affairs: Business of Joint Committee (24 May 2017)

Peadar Tóibín: In the private session after the-----

Joint Oireachtas Committee on Arts, Heritage, Regional, Rural and Gaeltacht Affairs: Business of Joint Committee (24 May 2017)

Peadar Tóibín: Let me answer the question. We will have a private session during which we will go into full detail on the topic of the fishermen that I understand the Deputy wishes to discuss. Is that right?

Joint Oireachtas Committee on Arts, Heritage, Regional, Rural and Gaeltacht Affairs: Business of Joint Committee (24 May 2017)

Peadar Tóibín: We will address that later. It is just that we have guests before us.