asked the Minister for Finance if he will state the cause of the decline in Post Office Savings Bank and Savings Certificates (Economic Series 41) between May to September from £1,472,000 in 1957 to £1,043,400 in 1958.
Ceisteanna—Questions. Oral Answers. - Post Office Savings Bank and Savings Certificates.
9.
As indicated in reply to a similar question on 22nd October last, the decline in small savings reflected the tendency of savings generally to fall from the high level reached in 1957. The unusually large volume of expenditure on foreign travel in connection with the Lourdes Centenary may have been a factor which affected small savings in particular.
Is the Parliamentary Secretary not aware that the main factor is that the policy of this Government has failed completely to live up to the expectations of the last year for which I was responsible?
The foreign travel figure is rather significant for the period chosen by the Deputy. It gives a figure of expenditure of £4,000,000 as against £2,000,000 in 1957 for foreign travel. That had a very important bearing on the matter.
Things are so bad under Fianna Fáil that the people have to get out.
And go to pray at Lourdes.
The Lourdes Centenary is the item I referred to.
Maybe they would want to be praying.
It would do them no harm.