asked the Minister for Finance if he will make a statement on the effect of the decision of the British Government to terminate their special import levy; and if he will state the net saving to the Exchequer in the current year.
Ceisteanna—Questions. Oral Answers. - Special Import Levy.
36.
As the Deputy is no doubt aware, the Government made arrangements with the banks for advancing, free of interest, to exporters the amounts of the deposits required under the British scheme so that the scheme had little, if any, impact on our exports. Its termination will not, therefore, materially affect our trade. The saving to the Exchequer in the current year will be negligible as the provision made for payment of interest assumed a phasing out of the scheme towards the end of the year.