asked the Minister for Finance the likely effect on capital movements of this country's entry into the EEC.
Ceisteanna—Questions. Oral Answers. - Movements of Capital.
29.
I would refer the Deputy to paragraphs 6.22 to 6.27 of the Government's April 1970 White Paper on the implications of membership of the European Communities. No additional directives have been adopted by the Community since publication of the White Paper and, therefore, the implications as set out in paragraph 6.27 are still valid.
Is the Parliamentary Secretary aware of the announcement made on the radio today that the EEC have come to an agreement on capital movement? Is he further aware that if there is more profit to be gained in European countries capital will immediately flow from Ireland into the EEC countries? What protective steps can this country take?
As I recollect the situation, when I had the Bill in the Seanad, the indications were that the capital flow would be the other way; it would be into this country.