asked the Minister for Finance the effect inflation has had on savings.
Ceisteanna — Questions. Oral Answers. - Inflation Effect.
46.
Mr. Kenny
The overall level of savings does not appear to have been adversely affected by the inflation of recent years. Total savings, including depreciation provisions as a percentage of gross national product, amounted to 19.9 per cent in 1970, 20.2 per cent in 1971, 21.6 per cent in 1972 and 23.1 per cent in 1973.
Could the Parliamentary Secretary indicate to the House where the savings are going? On the basis of the figures he has given, having regard to the fact that last year the amount of savings invested in National Loan and the various other State savings systems went down catastrophically, and on the figures he has given, the overall level of savings were either steady or tending upwards——
Mr. Kenny
They were going up.
Could he indicate where were the savings going? They were not going into State finances.
Mr. Kenny
In the information at my disposal I cannot find where the savings are going, but if the Deputy asks the Minister a question next week on those lines we shall have a reply for him.
The remaining questions will appear on tomorrow's Order Paper.