asked the Minister for Finance if he accepts the opinion of the National Economic and Social Council Publication No. 13 and in particular the opinion on page 5 of that report.
Ceisteanna—Questions. Oral Answers. - Report on Economy.
34.
When report No. 13 of the National Economic and Social Council entitled Economy in 1975 and Prospects for 1976 was published, the Government indicated that they regarded the report as a timely and valuable analysis of the position of, and outlook for, the economy. They agreed with the emphasis in the report on the need in 1976 to improve the competitiveness of Irish goods and services especially through income restraint. We are in broad agreement that to help the economy to get moving again there should be no increase in incomes in 1976 beyond the final standard increase of the 1975 National Agreement between trade unions and employers. Members of the Government have on many occasions in the past few months stressed the need for a pay pause. The budget both in the view taken of economic developments and in the forecasts of public expenditure and revenue was based on the expectation that the required measure of income restraint would be forthcoming. In our circumstances there is no alternative to a pay pause.
Page 5 of the NESC report deals with the recession in the international economy in 1974 and 1975. I would not disagree with the statements made.