It is proposed to take Nos.1 and 2 in that order.
Order of Business.
I would like to point to the fact that on a number of occasions I have asked the Leader of the House to arrange for a discussion of Motion No. 30 concerning the establishment of a Select Committee to investigate the implications of our parity exchange rate with the £ sterling. The first time I raised this was on 16th April, 1975. I mentioned briefly that it was likely at that time there would be a devaluation of sterling. The value of sterling on that date was $2.36 to the pound. It is now $1.86, a devaluation of 22 per cent. It is important that we have a debate on this because it appears to me that nobody knows what the position is, whether there is a policy with regard to our link with sterling, who makes the decisions, what the Government feelings are on the matter. I ask the Leader of the House if he could raise this with the Government and have an open discussion about this whole problem of our link with sterling and the effect it has on our economy.
I will make inquiries as regards the availability of the Minister for Finance. I know he is at the moment, as he was when the Senator raised it previously, tied up in the Dáil with the Finance Bill, but I will make inquiries.
If we do not have the debate very soon he might not have any money to play with at the rate the £ is devaluing.