79. Deputy Louise O'Reilly asked the Minister for Rural and Community Development and the Gaeltacht if he has considered the establishment of a community wealth-building fund within his Department; and if he will make a statement on the matter. [33194/25]

Sentiment score: 0.01

This question is fairly straightforward and simple, as I would like to think all my questions are. Has the Minister of State given consideration to establishing a community wealth building fund within his Department? He will know it is very long-standing Sinn Féin policy to support the development of community wealth building. We were in here the other night debating a Bill on ethical procurement and a representative of the Government stated that the Government is not hostile to the idea. This question is generally in that vein.

Sentiment score: 0.45

I really welcome that. As I said, this is long-standing Sinn Féin policy but it also makes a lot of sense. I appreciate that the Minister of State outlined what has been done, but the difference between what he has said and community wealth building revolves around key performance indicators, KPIs, to use that jargon. A community wealth building fund is shown to have been successful where there are deliverables and it is measurable, meaning we can look at reductions in poverty and inequality in a given local area. The purpose of it is to take the money being spent and use it to drive not just the local economy but also the local community. The State is a big player as regards spending power at local, national and international level. We must take that and channel it towards deliverables such as reduction in poverty, well-paying jobs for local people and additional local businesses, including those owned by co-operatives. It is not only what the Government is doing but adding an extra layer on top of that and measuring it. If we look at places such as Preston and Ayrshire, we can see genuine transformation happening at local level.

Sentiment score: 0.18

I do not wish to be argumentative but there is a small difference between what I am saying and what the Minister of State is saying. As much as the community wealth building model is driven by those deliverables, we are looking at measuring improvement in regard to the number of children living in poverty and increasing the percentage of the working-age population in employment, and not only in employment but in employment in decent work. It is about measuring as well as local development and investment and channelling money in a focused way. I encourage the Minister of State to look at Ayrshire and Preston in particular. Preston has been completely transformed by this and the drivers measured the impact on wages, poverty and job satisfaction, etc., for the local community. On this day last week we were here with the Minister of State's colleague the Minister of State, Deputy Higgins, and we discussed how the State can be a really important driver. This adds an additional measurement in order that it will be very focused and ensure there is delivery at local level.

Sentiment score: 0.27