asked the Minister for Transport and Power if he is now in a position to assess the probable effects of devaluation on the export industries at Shannon Airport; and, if so, if he will make a statement on the matter.
9.
Ceisteanna—Questions. Oral Answers. - Effects of Devaluation.
8.
asked the Minister for Transport and Power if he is yet in a position to assess the implications of devaluation for the industries on the Shannon industrial estate; and, if so, if he will outline the position.
With your permission, a Cheann Comhairle, I propose to take Questions Nos. 8 and 9 together.
As I informed the Deputy on 23rd November, 1967, in reply to a similar question, it will be some time before the full effects of devaluation can be assessed for the export industries at Shannon Airport.
In the light of the information so coyly supplied by the Parliamentary Secretary to the Taoiseach on the last question, bearing in mind that devaluation will increase the costs of imports of raw materials for Shannon and that devaluation will reduce the sterling or Irish currency receipts of Shannon, can the Minister give any estimate of what the probable net exports from Shannon are likely to be, following devaluation?
I am afraid it would be quite impossible. Some of the firms buy components in the sterling area and have exports outside the sterling area. Some buy components and raw materials in the area which has not devalued and have exports to the area which has devalued. It would be quite impossible, with the multiplicity of firms there, to make any kind of classification but I have no indication that the position is in any way serious.