asked the Minister for Finance whether his attention has been drawn to a report (details supplied) that the lowering of tariffs under the Anglo-Irish Free Trade Area Agreement has reduced by about 50 per cent the tariff protection for domestic industries competing with imports; if he will state the effects of this reduction on Ireland's economic growth rate and balance of payments; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Tariff Protection.
17.
I have seen the article to which the Deputy refers. The principal point made in the article is that the reason for the slow rate of growth experienced in 1970 is the loss of competitiveness. This loss of competitiveness has in large measure been caused by domestically generated cost increases of an inflationary nature which have had the added effect of stimulating imports. There is no evidence that the effect of the tariff reductions on the growth rate and the balance of payments has been other than marginal.