Written Answers. - Exchange Control Regulations.

36.

asked the Minister for Finance, in relation to his announced intention to relax exchange control regulations by stages, the next stage of relaxation; when it is proposed to come into effect; and if he will make a statement on the matter.

38.

asked the Minister for Finance the next stage in the relaxation of exchange controls; when the next stage of relaxation is planned; and if he will make a statement on the matter.

I propose to take Questions Nos. 36 and 38 together.

The measures which were introduced on 1 January, 1988 and 1 January 1989 represented the first two stages in the phased relaxation of exchange controls to which the Government is committed. It is my intention to have a further review before the end of 1989 to determine the scope for further relaxations at that time. Under our European Community obligations, we have undertaken to remove all exchange control restrictions vis-à-vis other member states by the end of 1992. We hope, by that time, to be also in a position to dismantle all controls with non-Community countries.