asked the Minister for Finance the projected difference in the rates of inflation in the event of Ireland (a) joining the EEC with England and (b) remaining outside the EEC with England.
Ceisteanna—Questions. Oral Answers. - Inflation Rates.
25.
The main influence on the rate of inflation at the present time is the rate of increase in money incomes. In the prevailing circumstances of uncertainty regarding this factor both in Ireland and in our trading partners, prediction of inflation would not be feasible. As regards the alternative situations mentioned in the question, relative rates of price increase would depend on so many other unknown and unquantifiable factors as to render the exercise impossible.
One of the most important considerations in relation to our application to join the EEC will be the rate of inflation in both Europe and Britain, whether or not Britain joins. Surely the Government have enough resources at their disposal to find out possible projections of inflation in both Britain and Europe?
I have already said that this exercise would be quite impossible.
I do not agree.
I have a list of reasons which the Deputy might not be aware of.
Will the Parliamentary Secretary give us the reasons?