asked the Minister for Finance if he will state, in reference to the number of appeals addressed by him in the Dáil, Seanad and elsewhere to the business community to cut prices and profits, the number of meetings or conferences held by the various representative organisations of the business community to consider this matter at which officers of his Department attended; whether any positive decisions were reached; and, if so, in what classes or categories of goods there had been a decline in price and what is the percentage decrease in each class or category compared with prices obtaining at the 31st December, 1947, or other comparable date.
Ceisteanna—Questions. Oral Answers. - Cuts in Prices and Profits.
So far only one conference of business representatives has been held with me and one other has been arranged for at an early date. The conference held was exploratory and it was not expected that decisions would be taken as to price cuts of definite percentages in specified categories of goods.
There was, however, general agreement expressed that a fall in the prices of drapery goods was to be expected.
Is the Minister taking any steps to extend these conferences, even of an exploratory nature?
Yes.
Can he state over what category of goods?
Over quite a number.
asked the Minister for Finance whether he has taken note of the view given expression to at the recent Trades Union Congress that there should be a 10 per cent. out in prices and whether he proposes to take any steps to bring about this or other percentage reduction generally or in certain classes of consumption goods; and, if so, whether he will indicate the classes where such reduction would be most desirable from the point of view of the general economy of the country.
My attention has been drawn to the views expressed at the recent Trades Union Congress. The Deputy will be aware that the prices of essential commodities are controlled by the Minister for Industry and Commerce and that such prices are fixed having regard to all the circumstances concerning each individual commodity. These prices are kept constantly under review and if production and distribution costs justify such a procedure, price reductions are made.
The Deputy will, no doubt, also be aware that some essential commodities, such as flour, bread, butter and tea, are subsidised and prices can only be reduced at the expense of the taxpayer.
In the case of imported commodities it is not possible to exercise control over the landed cost, and the price at which these commodities or products manufactured therefrom may be sold will depend to a very large extent on the landed cost.
It is not practicable to give effect to the percentage reductions referred to by the Deputy.
Would the Minister address himself to the last part of the question as a lead to the business community?
I can assure the Deputy that the business community are getting quite a number of leads these days.