Written answers
Tuesday, 18 February 2014
Department of Finance
Departmental Bodies Establishment
Seán Fleming (Laois-Offaly, Fianna Fail)
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195. To ask the Minister for Finance if he will list any new organisations-agencies established in his Department since 9 March 2011; the role and functions and the annual operating budget for these organisations-agencies; and if he will make a statement on the matter. [7944/14]
Michael Noonan (Limerick City, Fine Gael)
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The information requested by the Deputy is contained in the following table:
Details of bodies established since 09th March 2011
| Name of Body | Date Established if after 09 march 2011 | Allocated Budget 2013 € | Role and functions |
|---|---|---|---|
| Credit Union Restructuring Board (ReBo) | 1 January 2013 | €1.5 million of which €750,000 was drawn down | The role of ReBo is to facilitate and oversee the restructuring of credit unions on a voluntary, incentivised and time-bound basis and in accordance with the Credit Union and Co-operation with Overseas Regulators Act 2012. |
| Irish Fiscal Advisory Council* | 07 July 2011 | €816,000 | The Irish Fiscal Advisory Council is an independent statutory body whose purpose is to provide an independent assessment of official budgetary forecasts and proposed fiscal policy objectives. |
| New Economy and Recovery Authority (NewERA) | In September 2011 the Government announced the establishment of the New Economy and Recovery Authority (NewERA), initially on a non-statutory basis, within the National Treasury Management Agency (NTMA). Legislation to put NewERA on a statutory footing is expected to be enacted in 2014 . | NewERA is a business unit within the NTMA. Costs incurred by the NTMA in performing NewERA's functions are part of the NTMA's overall operating costs. | The core role of NewERA involves the oversight of the financial performance, corporate strategy and capital and investment plans of the five commercial semi-state companies within its remit ESB, Bord Gáis Eireann, EirGrid, Bord na Móna and Coillte and working with stakeholders to develop and straucture proposals for investment in energy, broadband and water to support economic activity. NewERA's role also involves, where requested by Govt, advising on the disposal or restructuring of State assets. |
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