asked the Taoiseach if he is aware of the unfavourable balance of trade between this country and the United Kingdom in 1970 arising from the operation of the Anglo-Irish Free Trade Agreement and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Trade with UK.
2.
The statistics for 1970 show a deficit in our balance of trade with the United Kingdom amounting to approximately £66 million. This position is substantially the same as in 1969 and, as in that year, is due to the general trend towards increasing imports of goods, many of which were not dutiable and were not, therefore, affected in any way by the duty concessions in the Anglo-Irish Free Trade Area Agreement.
From the Taoiseach's reply, I can only conclude that the trade agreement is, in effect, working against the better interests of this country and it is my view that there should be a radical revision of that treaty as soon as possible. I ask the Taoiseach to assure the House that such revision will be undertaken.
I do not think the Deputy could draw that conclusion from the reply I gave. Nevertheless, I readily concede that there are some industries which appear to be affected more than others. We are in close touch with the British side so as to ensure that any difficulties that might be experienced by any factors in the agreement will be alleviated.
Will not the Taoiseach agree that any trade agreement should ensure a fair balance of trade between both participants? In this case, there is a deficit in our balance of trade to the extent of £66 million. Some redress should be made in this respect under the terms of the agreement.
As the Deputy has said, there should be a fair balance and fair benefits to both sides but, again, I would like to remind the Deputy that the deficit of £66 million is not due to the trade agreement, as I indicated in my reply.
Immediate steps should be taken to redress the situation.
That is a good point.