asked the Minister for Finance what steps the Government have taken, or propose to take, to ensure that there will not at any future time be a substantial and sudden withdrawal of the capital lodged in Ireland in recent years which could be a severe embarrassment to the Government.

I do not envisage any situation in which a movement of the character indicated by the Deputy would be likely to occur. It is the intention of the Government that financial and monetary policies will be such as will maintain the confidence of external investors.

Has the Minister seen the comment in the Financial Times that had there been a return to power of the Tories at the last election, there would have been an instant fairly substantial flight of capital from this country? Would the Government be in a position to do anything about that if it happened?

I know that opinion was expressed. I do not know if there was much behind it or not, that there would have been a big recall of money; in other words, that people who put money in here were afraid of a Labour victory.