Vol. 424 No. 10
3 Mr. Durkan asked the Minister for Industry and Commerce his preferred options to stabilise the Irish export sector in the European context having regard to the recent currency fluctuations; and if he will make a statement on the matter.
Primary responsibility for adjusting to recent currency changes must rest with exporting firms themselves. The Government will support them in doing so in every way possible.
As I indicated to the House on 7 and 14 October 1992 the Government have established a Market Development Fund of £50 million for the period up to the end of March 1993 to assist firms which have been seriously affected by the recent turmoil in exchange rates. The assistance will be directed very specifically at those firms which are under the greatest pressure in adjusting to the fundamental changes in the marketplace arising from the recent devaluations.
In addition to the Fund, An Bord Tráchtála have initiated a series of measures directly targeted at the marketing needs of the firms affected. An Bord Tráchtála have also established a special Help Line for advice on the new and intensified programmes available to firms to assist them with difficulties in the international marketplace.
