asked the Minister for Transport and Power if he will elaborate on his reported statement at the Dublin Society of Incorporated Secretaries that the real growth in prosperity from 1961 to 1964 was less than from 1958 to 1961 and that all the false appearances of prosperity were to be found in excessive expenditure.
Ceisteanna—Questions. Oral Answers. - Growth in Prosperity.
2.
I would refer the Deputy to the Budget Statement by the Minister for Finance, with particular reference to page 29, where he will find comment on the comparative economic conditions from 1958 to 1964. Industrial earnings increased in real terms by 13 per cent between 1958 and 1961 and by 12 per cent in the second period, although the earnings in current terms had increased by 17 per cent in the first period and by 28 per cent in the second. The effect of the 28 per cent increase gave a false impression since production had not increased in like proportion. Warnings were given by the Government continously during the whole period.