asked the Minister for Finance the total amount of foreign investment in Ireland excluding State borrowing for each of the past five years.
Ceisteanna—Questions. Oral Answers. - Foreign Investment.
32.
I presume the Deputy is referring to the private net capital inflow in recent years. The following table shows the net capital inflow exclusive of foreign borrowing by the Government and State-sponsored bodies in each of the years 1970 to 1974.
Figures for 1975 are not yet available.
|
Year |
£ million |
|
1970 |
36.5 |
|
1971 |
129.2 |
|
1972 |
74.8 |
|
1973 |
35.4 |
|
1974 |
119.5 |
Can the Minister state if, in view of what has happened to the £ in recent days, he is considering again breaking the link with sterling?
That seems to be a separate question.
It is all tied up with this borrowing. It is costing £30 million to pay back some of the money he borrowed last year.
I can assure the Deputy that the situation is most carefully watched all the time.
Is it the Minister's intention to break the link with sterling?
The question of breaking the link is not material. What is material is whether you revalue or devalue your own currency against the currency with which you may have previously been linked.
Is the Minister considering revaluation or devaluation?
If the Deputy likes to address a question to me on the matter, I will be very happy to reply.
In view of the fact that the Minister could not give information on the question put by Deputy MacSharry for 1975, could he indicate when he will be in a position to give the 1975 figure?
1976.
No, the 1975 figure.
The preliminary official estimate of capital inflow will not be available until the balance of payments statement is received from the Central Statistics Office, and this will not be available for some months. Indeed, the detailed 1974 balance of payments statement was received only recently. However, I am pressing the Central Statistics Office to expedite the furnishing of the information.