asked the Minister for Industry and Commerce if he will state what action, if any, he intends taking against manufacturing firms who are stated to be making excessive profits, further, if he will indicate whether these firms are subsidiary operating companies of foreign firms or whether or not they comply with the Control of Manufactures Acts, 1932 and 1934.
Ceisteanna—Questions. Oral Answers. - Profits of Manufacturing Firms.
asked the Minister for Industry and Commerce if he will state whether he has decided that Irish manufacturers are making excessive profits; and, if so, on what grounds of comparison he bases this decision.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 21 and 22 together. The prices and profits of manufacturers generally are subject to control and I believe that, on the whole, the control has the effect of keeping profits within reasonable limits. In determining whether profits are reasonable, regard is had in particular to turnover, volume of output, the amount reasonably required for reserves, and the capital employed in the undertakings concerned. I am not aware of the particular concerns to which the Deputy refers in Question No. 21, but in the case of any concern where it is found that excessive profits have been earned action is taken to effect any necessary reduction in prices and profits.