CEISTEANNA—QUESTIONS. ORAL ANSWERS. - ADVERSE TRADE BALANCE. – Dáil Éireann (4th Dáil) – Tuesday, 7 Dec 1926

MICHEAL O hIFEARNAIN

asked the Minister for Industry and Commerce if his Department has examined into the causes of the present adverse trade balance, and, if so, if he will give reasons to which it may be attributed; further, whether he will state what are the approximate amounts of invisible imports and exports for the latest available calendar or financial year.

MINISTER for INDUSTRY and COMMERCE (Mr. McGilligan)

Material is not yet available to my Department from which the total value of the invisible trade of the country can be measured. It is possible, however, to estimate the values of the principal invisible exports and imports during the financial year 1924-25. The principal invisible exports (so far as they were known) and their values during the period were:—

	£
Income from Investments abroad estimated at	11,000,000
War Pensions paid by British Government	2,347,000
Emigrants' Remittances, estimated at	2,250,000
Adjustment of Post Office transactions	1,338,000
Compensation paid by British Government	584,000
Interest on Irish Bank loans to money market, estimated at	250,000

The following were the values of certain of the invisible imports during the financial year 1924-25:—

	£
Profit on investment of foreign capital in the Irish Free State	3,340,000
Land Purchase Annuities	2,664,000
Pensions paid to ex-R.I.C.	1,322,000
Local Loans Fund	798,000
Other debit items—Annuities arising from the expenditure under the Telegraph Acts and Military Works Act, malicious damage before truce, etc.	520,000

These items have already been published with explanatory notes in the March, 1926, issue of the "Irish Trade Journal."

I regret that I cannot, within the limits of an ordinary Parliamentary question and answer, state the reasons to which may be attributed the adverse trade balance.

Dáil Éireann debate -
Tuesday, 7 Dec 1926