Joan Burton (Dublin West, Labour)
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70. To ask the Minister for Finance his Department’s engagement with the public banking investigation being conducted by the Department of Rural and Community Development; and if he will make a statement on the matter. [44754/17]

Joan Burton (Dublin West, Labour)
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78. To ask the Minister for Finance if his attention has been drawn to recent publicity regarding an organisation's (details supplied) work here regarding the establishment of a public banking network; if the organisation invited officials from his department and the Department of Rural and Community Development to participate in a field trip to Germany to examine the public banking network there; the technical assistance the organisation offered the Government in respect of the establishment of a public banking network here; and if he will make a statement on the matter. [44543/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 70 and 78 together.

The Programme for a Partnership Government commits the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs, now the Department of Rural and Community Development, and the Department of Finance to conduct a thorough investigation of the German Sparkassen model for the development of local public banks that operate within well-defined regions, as well as other models of local public banking.

Officials from both my Department and the Department of Rural and Community Development are working closely to prepare a report of the findings of the investigation of the Sparkassen and other models of local public banking including the Kiwibank model in New Zealand. As the Deputy is aware, the completed report will be presented to my colleague, the Minister for Rural and Community Development, Michael Ring T.D., and myself.

This investigation of local public banking has consisted of engagement with stakeholders and interested parties, including the Savings Banks Foundation for International Cooperation (SBFIC). Officials from the Department of Rural and Community Development and from my Department have met with representatives from SBFIC a number of times. Officials have been provided with a detailed proposal and presentation on the Sparkassen model and its potential implementation in an Irish context by SBFIC.

I understand that the report is being finalised and that I can expect to receive it in the near future. The report will outline the current Irish banking environment, summarise the views provided by respondents to the consultation process conducted as part of this investigation and set out findings in relation to the local public banking model in Ireland. The process of investigating local public banking has been a collaborative effort with my Department working closely with the Department of Rural and Community Development to ensure a thorough and critical investigation of this matter. The purpose of the consultation process and report is to assist the Government in its analysis of local public banking in an Irish context.