asked the Minister for Finance if the worsening trade deficit of recent months puts at risk the parity of the Irish £ towards sterling, in the event of a break with sterling.

As part of the Government's economic strategy for this year it was envisaged that, with the accelerated growth in the economy, the volume of imports would rise appreciably and the visible trade deficit would, as a consequence, widen. The excess of imports over exports experienced so far this year is not out of line with expectations. The answer to the Deputy's question is, therefore, in the negative.

Is this the expectation of the Minister for Economic Planning and Development or is it the Government's expectation or what reputable authority is the Minister quoting when he says it is in accord with expectations?

The Deputy will be aware that estimates were given earlier, for instance, in the budget speech. It was indicated then that the likely current account deficit would be in the range of £350 million to £400 million. In the Economic Review and Outlook, published in July 1978, the deficit was forecast as about £200 million. The latest estimate is about £150 million.