asked the Minister for Finance the targets set by the Government for the reduction of unemployment in 1979 and 1980; the actual reduction achieved in each year; and if he will make a statement on the matter.

24.

asked the Minister for Finance in the light of the target set in the White Paper entitled Programme for National Development of a level of unemployment of 23,000 at the end of 1981, the Government's current projection of registered unemployment at that date; and if he will make a statement on the matter.

25.

asked the Minister for Finance in the light of the target set in the White Paper entitled Programme for National Development of a rate of inflation of less than 5 per cent at the end of 1981, the Government's current projection of the rate of price rises at the end of this year; and if he will make a statement on the matter.

26.

asked the Minister for Finance in the light of the target set in the White Paper entitled Programme for National Development of an annual GNP growth rate of 5 per cent in 1981, the Government's current projection of GNP growth this year; and if he will make a statement on the matter.

27.

asked the Minister for Finance in the light of the target set in the White Paper entitled Programme for National Development of an Exchequer borrowing requirement of less than 8 per cent in 1981, the Government's current projection of the borrowing requirement for this year; and if he will make a statement on the matter.

I propose, with the permission of the Ceann Comhairle, to take Questions Nos. 23 to 27 inclusive, together.

The White Paper Programme for National Development 1978-1981 and the targets contained in it were published in January 1979 before the onset of the substantial oil price increases in 1979 and the ensuing world-wide economic recession. As a consequence, the assumptions concerning the economic environment in the period covered by the White Paper targets were considerably more optimistic than actual events showed. This was acknowledged in the further White Paper Investment and National Development 1979-1983, published in January 1980.

This White Paper also pointed out that the further deterioration in the international environment, then evident, would have an adverse effect on the Irish economy's prospects. This was borne out by subsequent events. The prospective situation in 1981 is, however, more favourable for growth and inflation.