Vol. 412 No. 7
6 Mr. Quinn asked the Minister for Industry and Commerce if he proposes to publish the White Paper on economic policy and its executive implementation by the Government in the light of the changed circumstances being brought about by the completion of the internal market project in 1992, and economic and monetary union, and its implications for this country; and if he will make a statement on the matter.
I presume that the Deputy's question relates to the review of industrial policy that I have instituted. A review group was established for that purpose last June. The group is now undertaking a fundamental review of policies and measures that impact on industrial development with particular attention being paid to the significant areas of public policy that impact on the development of the internationally trading indigenous industrial sector. Among the matters that have such an impact are the effects of market integration and closer economic and monetary union.
I expect that the group will have finalised their analysis by the year end and that I will be in a position to publish the group's findings and recommendations and any Government decisions arising thereon early in the New Year.
I thank the Minister for his reply. While I did confirm to his office that my question related to that particular review group, I now ask the Minister if he is confining any publications exclusively to the recommendations that this group will make and will that be the extent of his Government's economic policy?
No, it certainly is not, but the matters to which the Deputy refers in his question are matters in respect of which a White Paper will be issued, as already stated. My assumption is that it will be issued from the Department of Finance which would seem to be the appropriate Department to issue a White Paper on questions of economic and monetary union.
There seems to be a certain lack of clarity in relation to the responsibility for economic policy. It appears from the 1992 project and the economic changes that will result from stage 2 of economic and monetary union that there is no clear responsibility for economic policy within this Government. Is the Minister saying that the post-Maastricht White Paper, which the Government intend to publish, will in fact be published by either the Department of Finance or the Department of Foreign Affairs? What input does he envisage his Department having into that White Paper?
I envisage my Department having a considerable input into it. I am not sure what the structure of the publication will be, whether there will be a separate White Paper on political union and a separate one on economic and monetary union or whether they will be published together in one document. The primary Department in respect of political union would, of course, be the Department of Foreign Affairs and the primary Department in respect of European Monetary Union would be the Department of Finance but there will be a very substantial input by my Department to both those papers, particularly the European Monetary Union paper.
