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Written Answers - Departmental Strategies

Tuesday, 27 March 2012

Dáil Éireann Debate
Vol. 760 No. 3

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 131.  Deputy Michael Healy-Rae Information on Michael Healy-Rae Zoom on Michael Healy-Rae  asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan  his views on a matter (details supplied); and if he will make a statement on the matter. [16381/12]

Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan Zoom on Michael Noonan A report setting out a Strategy for Financial Inclusion was published on my Department’s website in June 2011. The main operational [748]recommendation from the report was the proposed introduction of a basic payment account. An implementation group, which is chaired by my Department, has been established to manage the implementation process and a basic payment account is expected to be rolled out in June 2012 on a pilot basis in three locations in the State. Following an analysis of the outcome of the pilot it is expected that the basic payment account will be rolled out nationally in 2013.

It was noted in the Strategy for Financial Inclusion report that the post office network has the potential to play a key role in the delivery of basic payment accounts. However the delivery of a basic payment account by the post office network is contingent on suitable systems, operational, commercial and governance arrangements being in place to facilitate such a process. I am advised that this is one of the many issues which will be considered in the context of the pilot programme.

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