asked the Minister for Finance if he will outline the contributions to the EEC budget this country will have to make for five years from 1st January, 1973.
Ceisteanna—Questions. Oral Answers. - EEC Budget Contribution.
16.
It is estimated that Ireland's contributions to the Community budget for the years in question will be of the following order:
|
£m |
|
|
1973 |
5.0 |
|
1974 |
7.3 |
|
1975 |
9.5 |
|
1976 |
12.0 |
|
1977 |
15.0 |
These estimates are of a tentative nature since the size of future budgets is subject to Community decisions. They are also subject to marginal adjustments in the light of Norway's decision not to accede to the Communities. The adjustments necessary as a result of Norway's decision are at present under consideration among the member states and the three remaining acceding states.
Is there any provision in these figures for inflation, this all-embracing phenomenon to which the Minister has not referred?
I am not sure whether I can answer that offhand but certainly allowance has been made for depreciation in the value of the £ as a result of its floating.
Already. The Minister is fair about that anyway.
Provision has been made to the extent that the figures are based on projections, assuming certain percentage increases during the year in the budget. This might take account to some extent of the phenomenon to which the Deputy referred.
The £ is sinking, not floating.