Ceisteanna—Questions. Oral Answers. - EMS Bilateral Transfer.
- EMS bilateral transfer details 21 speeches
Cluskey pressed Colley on the terms and timing of additional bilateral transfers associated with EMS entry. Colley said the expected interest subsidy had a capitalised value of £25 million in each of the first two years, but the final details remained unsettled and were unlikely to be available until EMS began; he declined to specify the matters still outstanding.
Frank Cluskey, George Colley, Joseph Brennan, Garrett Fitzgerald
- Infrastructure benefits from EMS transfers 2 speeches
Quinn asked which infrastructure sectors would benefit directly from EMS-related resource transfers. Colley deferred his answer to the Budget statement on 7 February.
Ruairí Quinn, George Colley
asked the Minister for Finance if the final details of the additional bilateral transfers agreed in connection with Irish entry into the proposed European Monetary System have yet been settled; and, if so, if he will indicate what they are and their scheduling.
Comment on this
Is the Minister saying that a month after the scheduled start of EMS and the Government's decision to enter the EMS had it commenced on 1 January, we still do not know under what terms we are entering the EMS?
Comment on this
We know the terms, but the final details of the matters referred to in the Deputy's question are unlikely to become available until the EMS comes into operation.
Comment on this
If the Government know the terms under which we are entering into EMS, the last time we discussed this we were told by both the Taoiseach and the Tánaiste that they did not know the terms of our entry——
Comment on this
I am very well aware of the question. I am anxious to give the Deputy every opportunity to raise supplementaries, but I will not permit——
Comment on this
The question I asked the Minister was if the Government are aware of the precise terms and, if so, would he state what they are. The Minister told us that he is not aware of them and then said that they did not affect us but that we were aware of what affected us. I am just asking that the Minister tell the House what are the terms he is aware of?
Comment on this
As has been said on a number of occasions, and as the Deputy well knows, the terms are that the capitalised value of the proposed interest subsidy in relation to what the Deputy refers to is expected to amount to £25 million during each of the first two years of the operation of the EMS. The final details, which the Deputy's question seeks, have not yet been settled and, as I have indicated, they are unlikely to become available until after the EMS comes into operation.
Comment on this
If the Deputy wishes to put it that way, he can accept responsibility for that statement. I do not accept responsibility for any statement by Deputy FitzGerald.
Comment on this
asked the Minister for Finance if he will indicate those sectors of our physical infrastructure which will directly benefit from the transfer of resources, consequent on our entry into the EMS, as indicated by the Taoiseach to the Dáil on 21 December 1978.