asked the Taoiseach the economic growth rate achieved for each of the years 1969, 1970 and 1971; and the projected growth rate for 1972.
Ceisteanna—Questions. Oral Answers. - Economic Growth Rate.
7.
The growth in gross national product at constant market prices is estimated to have been 4.1 per cent, 2.4 per cent and 3 per cent respectively in the years 1969, 1970 and 1971.
Pre-budgetary indications were that the growth rate in the economy in 1972 would be between 2 and 2½ per cent. The additional spending power released through the budget will increase the growth rate. In the budget speech the Minister for Finance stated that the additional spending power will raise the growth rate by about 1¾ per cent between mid-1972 and mid-1973.
Did I understand the Taoiseach to say that the economy is, in effect, reaching a stagnating position?
No. If the Deputy looks at the answer again, he will see that it is anything but.
Two per cent.
The Deputy is forgetting the 3 per cent.
Two per cent for this year.
Two to 2½ per cent, plus 1¾ per cent.
That is not very encouraging.
I understand that the Deputy has accountancy qualifications. I think he ought to do his sums.
It is not a very encouraging picture.
Deputy Blaney may make the Taoiseach do his sums soon.