Haughey, Charles J.

Tuesday, 25 March 1969

Dáil Eireann Debate
Vol. 239 No. 6

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Committee on Finance. - Bretton Woods Agreements (Amendment) Bill, 1968: Second Stage.

I move that the Bill be now read a second time. The main purpose of the Bill is to approve the Government's acceptance of the amendment to the Articles of Agreement of the International Monetary Fund ...More Button

There have been growing fears that the usual sources of international reserves will not be adequate for the requirements of expanding world trade and payments. No doubt, there will continue to be argu...More Button

It has taken even longer. This finally came to the surface in Rio, but the discussions had been going on before that.More Button

Our reserves are at the highest level ever.More Button

Our external reserves.More Button

They were out of the country anyway. The fact that they are external reserves means they are out of the country.More Button

We are talking on the one hand of the external reserves as owned by our private citizens. The Deputy said they might transfer them out of the country. The fact that they are external reserves means ...More Button

In strict terms of international reserves we are far wealthier than Great Britain. Great Britain has an international net liability of something like three to four thousand million pounds. We have a...More Button

Our official external reserves, officially held by the Central Bank, the Government Departments or the commercial banks, would cover our external trading position for about nine months, which is not b...More Button

I am grateful to the House for the manner in which they have received this piece of legislation. Perhaps I should begin by dealing with the point made by Deputy Tully when he spoke about the acceptabi...More Button

I want to deal with that. I do not deny that internationally there is a very great problem of inflation but even if there were no such problem this measure would still be helpful, and perhaps even ne...More Button

The problem would be less but it would still be with us. In any event, even if we had all the gold in the world, gold is perhaps not a perfect instrument for settling international debts.More Button

It is a costly mechanism and even if we were not faced internationally with the problem of a decreasing supply of world gold it would still be desirable to create a new type of monetary mechanism whic...More Button

I think Deputy Dillon made a good speech. I disagree with some of it but, by and large, I would find the trend of his remarks unexceptional, perhaps a little bit orthodox for me. I am sorry that he ...More Button

I think I could ask for all Stages now.More Button

Committee on Finance. - Bretton Woods Agreements (Amendment) Bill, 1968: Money Resolution.

I move : That it is expedient to authorise such payments out of moneys provided by the Oireachtas as are necessary to give effect to any Act of the present session to make provision with respect to ac...More Button

Committee on Finance. - Bretton Woods Agreements (Amendment) Bill, 1968 : Committee and Final Stages.

I have nothing to say in conclusion except that Deputy Dillon will be a loss to this House. Perhaps my colleague on my left might persuade him to change his mind. I am grateful to the House for the fa...More Button

I have two Supplementary Estimates which are ordered for later on. Perhaps, as I am in the House, it might be agreed to take them now.More Button

Perhaps we could do them now.More Button

Committee on Finance. - Vote 12: Superannuation and Retired Allowances.

I move: That a supplementary sum not exceeding £10 be granted to defray the charge which will come in course of payment during the year ending on the 31st day of March, 1969, for Pensions, Superannuat...More Button

Yes. This is to meet the cost of that offset up to the end of February of this year.More Button

The EEC may become very like the proverbial Irish cattle in this respect.More Button

Vote No. 12—Superannuation and Retired Allowances— deals, of course, only with the scheme which came into operation on 23rd July last. Again, may I point out that this is a contributory scheme and th...More Button

They have put that proposition very persuasively to me. I do not suppose there is any single matter in which I am so well briefed as I am in this.More Button

There is no matter upon which I have received such comprehensive and constant representations. I keep saying that I am sympathetic but there are difficulties.More Button

Do not forget that before my time there was no such agreement.More Button

One way or another, if we were to bring in the unfortunate widows about whom so many Deputies are concerned, it would cost us money. If it would not cost us money there would be no real point in thei...More Button

I gave a figure of £1 million.More Button

It is no use saying “nonsense”. If this were to be done it would have to be done comprehensively for the whole public service. The cost would be £1 million. I gave this figure to Deputy Dillon in r...More Button

Yes.More Button

I am not attempting to give the figure of £1 million as a firm estimate. It is tentative, on the basis that this would have to be done for the whole public service. Whether it is £1 million, £2 mill...More Button

There has been a sudden increase in recent months but I could not give in clear terms the exact picture. It is too soon to try to learn what exactly this current trend will level off at. I wish to a...More Button

Balance of payments difficulties override the Agreement in this respect. The British Government's attitude is: “You have a vested interest in the preservation of sterling as a currency just as we hav...More Button

We should not talk too much about that. The British Government can say to us, with a considerable amount of wisdom: “You have perhaps just as big an interest in sterling as we have. We are doing a g...More Button

Committee on Finance. - Vote 16: Miscellaneous Expenses.

I move: That a supplementary sum not exceeding £70,000 be granted to defray the charge which will come in course of payment during the year ending on the 31st day of March, 1969, for certain Miscellan...More Button

I am very grateful to the House for the courtesy afforded to me in dealing so expeditiously with this. I will report it to my colleagues.More Button


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