Maureen O'Sullivan (Dublin Central, Independent)
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59. To ask the Minister for Foreign Affairs and Trade his views on the Dóchas report highlighting concerns that Brexit could effect development aid with the departure of UK contributions and especially the need for tax transparency and financial regulation in the event of international financial sector companies moving here. [18232/17]

Joe McHugh (Donegal, Fine Gael)
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There is no doubt that the decision of the United Kingdom to leave the European Union presents unprecedented political, economic and diplomatic challenges for Ireland, extending right across the policy spectrum, including development cooperation.

The UK is a major contributor to the EU’s aid budgets. Its share of the off-budget 2014-2020 European Development Fund is 14.68% or €4.48 billion out of a total of €30.5 billion. Ireland’s share is 0.94% or €287 million. Provisional figures for member States’ shares of 2016 Official Development Assistance (ODA) spending from the EU Budget attribute 13.45% to the UK, or €1.23 billion out of a total of €9.13 billion, with Ireland at 1.61% or €147 million. The absence of the full UK contribution would necessarily result in either a significant reduction of the EU’s aid budgets or an increase in the contributions of the remaining member States.

In addition to the impact on levels of funding, if the UK were absent from policy debate, there would be a significant impact in terms of our shared policy objectives in EU discussions. These include the continuing commitment to ODA, a focus on countries most in need, including a strong focus on Africa, and prioritisation of food and nutrition security, health, gender and work in fragile states.

For now, of course, the UK is participating fully in EU development funding and policy discussions. I look forward to continuing to work closely with the UK on development issues and to strengthening our cooperation and discussions with the other EU Member States. Ireland will continue to play a strong role on development and humanitarian issues, at all levels internationally.

The issue of tax transparency and financial regulation in the event of any move to Ireland by international financial sector companies is a matter for my colleague the Minister for Finance.