asked the Minister for Finance if he will give for the immediate post-war years an estimate of (a) our import requirements from dollar countries; (b) the corresponding value of our anticipated exports to such countries, and (c) if he will state what steps he proposes to take to secure the necessary exchange facilities to purchase our requirements in dollar goods.
Ceisteanna—Questions. Oral Answers. - Exchange Facilities.
With regard to the first two parts of the Deputy's question, it will be appreciated that import requirements from, and anticipated exports to, dollar countries during the immediate post-war years will be governed by so many unpredictable factors such as availability of goods, including raw materials used in the manufacture of goods for export, price levels, alternative sources of supply, exchange restrictions, the shipping position, etc., that it is impossible to give an estimate of any value as to the quantity of goods that will be imported or exported during any stated period in the near future.
With regard to the third part of the Deputy's question, it may be anticipated that, unless circumstances change considerably, there will be in the immediate future, as in pre-war years, an adverse balance of trade with the dollar countries, but it is hoped that the gap may be narrowed by the expansion and development of exports—a problem which is receiving the closest attention of the Minister for Industry and Commerce—and, also, by the expected development of the tourist industry. In the circumstances envisaged, it will be necessary for the Government to maintain for the present the control of foreign exchange, including the machinery which enables the dollar resources of Irish residents to be acquired by the Minister for Finance.
If we take the countries, Canada, the United States, Brazil and the Argentine, our position last year was that we imported £10,000,000 worth of materials from them and exported to them only about £200,000 worth. In view of the enormous gap there, will the Minister say if it is proposed to make a statement at any time as to the systematic measures that will be taken to reduce that gap?
I have indicated the measures in reply to the question.
The Minister will appreciate that the gap is so enormous —practically £10,000,000—that a very radical planning of an export trade will be necessary, so much so as to entail a radical change in policy. I suggest to the Minister that it would be advisable, when the situation is reviewed, that there should be some statement or White Paper or some publication of the Government's intentions in the matter.