asked the Minister for Finance whether he is aware that the Republic of Ireland faces a serious crisis in the year 1952 by its now admitted failure to be able to balance, by that year, its payments with America, and whether he can indicate what decisions have been taken by the Government to curtail drastically, and to stop, where at all possible, purchases from America so that this country may be able to survive the crisis and maintain its independence.
Ceisteanna—Questions. Oral Answers. - Purchases from America.
I am aware that Ireland, in common with many other countries, will face problems and difficulties when Marshall Aid ceases, if, by that time, free convertibility of currencies has not been restored. In our case the disequilibrium in our balance of payments with the dollar area would not of itself create a serious problem if our other current receipts could to the extent necessary be converted into dollars. In order to minimise the problem that will arise if the requisite degree of convertibility cannot be secured when American aid ceases, it is essential that dollars should not be spent on unnecessary purposes and that our earnings of dollars should be increased as far as possible. The existing Exchange Control Code provides the Government with all necessary powers to limit dollar expenditure as circumstances require and the Government have had, and have, under review measures designed to expand dollar earnings so far as that can be achieved by Government action. Any major Government decisions in relation to dollar saving or dollar earning will be announced from time to time in the appropriate manner.
Will the Minister ensure that dollar expenditure on high-powered cars will be drastically curtailed in the near future?
And not spent for the purpose of having these cars used by ex-Ministers.
That is a disorderly interruption.
Did you not drive in it yourself, pretty often?
Deputy Boland does not want the car and they can have it back any damn time they like. It is a damn nuisance to me.