asked the Minister for Finance if he has granted permission under the Exchange Control Acts for payments to "Iron Curtain" countries; and, if so, if he will state the exchange on which the currency payments were negotiated; and if he will refuse further permission for payments to these countries in view of the imbalance of this country's trade with them.
Ceisteanna—Questions. Oral Answers. - Exchange Control: Payments to Iron Curtain Countries.
23.
Having regard to the Exchange Control Regulations 1955, the permission of the Minister for Finance is not required for payments for imports for the home market from any European countries.
Permission is required for payments for goods for resale abroad and this has been granted in respect of some consignments of goods from East Germany and Hungary.
Payments to the countries of Eastern Europe are made in transferable or external account sterling.
In view of the availability of external account sterling there would be no justification for the use of the Exchange Control Acts to restrict payments for normal trade with any country.
Surely there would be justification for restriction in the case of Russia and Eastern Germany, when in the first ten months of last year we got £800,000 worth from them —probably the product of sweated labour—and did not sell them a pennyworth?
My predecessor made regulations in 1955 and I do not think I should change them.
Whether the Minister's predecessor made regulations or not, we were not buying £800,000 worth from Russia when he was in office.
The Deputy is making a speech, not asking a question.
I am telling the Minister, not asking him.
The Deputy is entitled to ask a question, not to tell the Minister.
Would the Minister state the date on which, under the 1955 regulations, trade with these countries ceased to be subject to currency control? I know the regulations were made in 1955, but that was not the date upon which the Order was made.
They are not referred to. They are treated the same way as any other country.
Would the Minister please answer the question: On what date was the Order made under the 1955 regulations which permitted current trade with countries in Europe to be made without exchange control permission?
I cannot answer. I do not think there was any Order made. I think it was under the regulations that this was done but I may be wrong in that.
If the Minister looks at it, he will find that the regulations were permissive and that the Order was made subsequently.
We will see.
And I think it was made by the present Minister, not by me, but I am not quite sure.
They were both done under permission, anyhow.