andMr. McQuillan asked the Minister for Finance whether he is aware that the continued announcements by companies of their substantial annual profit shareouts at a time when white collar and manual workers are asked to exercise wage restraint are causing considerable resentment and bitterness; and if, in the circumstances, the Government are prepared to exercise profit and dividend control, or withdraw the white paper.
Ceisteanna—Questions. Oral Answers. - Profit and Dividend Control.
16.
I am not aware of any general or substantial increase in dividends, not have I received any representations on this subject. The second part of the question does not, therefore, arise.
I would remind the Deputies that the White Paper contains a warning about the harmful effects of higher profit distributions not associated with higher production or sales, and states that there is a special obligation on industrial managements to set, in this respect, an example to the rest of the community.
Is it not a fact that there have been continuous pious exhortations of this kind to the manufacturers and that they have ignored them at a time when the trade union movement have been asking their members to exercise restraint?
I do not know if they have ignored them.
Is the Minister satisfied there have been no increases in the profits shared by a number of very prominent companies at a time when employees of the ESB and members of the Garda Síochána are being deliberately prevented from getting the increases in salaries to which they are entitled? Is the big stick being reserved for those under the Minister's control and the exhortations reserved for workers in industrial and commercial grades?
No.