John McGuinness (Carlow-Kilkenny, Fianna Fail)
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89. To ask the Minister for Finance if he will provide the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach with a draft copy of the report being completed by his Department relative to public banking; if he will arrange for the committee to have an input into this report in view of the public hearings it has held on the issue; and if he will make a statement on the matter. [47180/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will be aware, the Programme for a Partnership Government commits the Government to thoroughly investigating the German Sparkassen model for the development of local public banks that operate within well-defined regions. The purpose of the consultation process and report is to assist the Government in its analysis of local public banking in an Irish context. My Department and the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs, now the Department of Community and Rural Development, were tasked with fulfilling this Programme for a Partnership Government commitment.

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

I can confirm that officials in my Department are working jointly with colleagues in the Department of Community and Rural Development in order to prepare a report of the findings of their investigation. It is expected that the report will be completed in the near future. It will describe the current Irish banking environment, outline the Sparkasse and Kiwibank business models, detail the proposal for local public banking in Ireland received from Irish Rural Link and SBFIC, summarise the views of respondents to the consultation process and set out findings in relation to the potential for a local public banking model in Ireland.

The completed report will be presented jointly to the Minister for Rural and Community Development, Michael Ring T.D., and myself. The report will then be brought to Government, for Cabinet Approval. Once the report has been brought to Government, a copy will be provided to the Joint Committee on Finance, Public Expenditure, and Reform and Taoiseach.