andMr. Harte asked the Minister for Finance if he will state in relation to the year 1970-71 (a) the total exports and imports, (b) the adverse trade balance, (c) the total deficit in the balance of payments and (d) what action the Government intend to take to correct the adverse trends.
Ceisteanna—Questions. Oral Answers. - Trade Statistics.
24.
With regard to parts (a) to (c) of the question I would point out that balance of payments data are available only on a calendar year basis. In the Review of 1970 and Outlook for 1971 which was published today the following information is given for 1970:
(a) merchandise imports totalled £669 million and merchandise exports totalled £460 million.
(b) the adverse trade balance was £209 million.
(c) the deficit on the current account of the balance of payments was £62 million.
In answer to part (d) of the question I would refer the Deputies to the Review of 1970 and Outlook for 1971, page 26, paragraph 66, which indicates that the balance of payments deficit on current account in 1971 is expected to be of a similar order to last year's deficit but, when imports of ships and aircraft are excluded, an improvement in the underlying trend in the balance of payments is anticipated. I will deal with the more detailed aspects of economic policy in my Budget speech.
Have the Government any plans to deal with the adverse trade balance? Would the Taoiseach not admit that, due to Government action or inaction, not alone are we pricing ourselves out of the British and continental markets but out of the home market as well, and that in the supermarkets and the other big shops in the city of Dublin and throughout the country there is more English produce on sale now than Irish? What do the Government intend to do about this trend?
The answer to the first part of the supplementary is "yes" and to the second part is "no".
Is the Minister agreeing it is all due to Government inaction?