asked the Minister for Industry and Commerce why the growth in manufacturing output increased by less than 4 per cent in 1974 as against 10 per cent in 1973.
Ceisteanna—Questions. Oral Answers. - Manufacturing Output Growth.
5.
The reduced growth in manufacturing output in 1974 compared with 1973 is attributable to the downturn in world economic activity which became evident towards the end of 1973 and intensified throughout 1974. The world recession coupled with the impact in particular of higher oil prices has led to a fall-off in consumer demand at home and abroad and a consequent reduction in manufacturing activity.
Would the Parliamentary Secretary have any idea that, perhaps, the disincentive battery of taxation policies inaugurated by the Coalition Government in 1974 was also responsible for this very significant downturn in activity?
That is a different matter.
I have no evidence to that effect.