526219
Description
Mind Map by emma.lawler1803, updated more than 1 year ago
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Created by emma.lawler1803
about 10 years ago
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First Programme for Economic Expansion
(1958-1963)
- Introduction
- Protectionism since 1930s - barrier to economic growth
- Gerard Sweetman (Minister for Finance in
2nd Inter-Party Government)
- TK Whitaker (Secretary or Dept. of Finance
- Younger men unaffected by policies of the 1930s
- Protectionism since 1930s - barrier to economic growth
- White Paper
- November 1958
- First Programme for Economic Development
- White Paper 'Economic development' drawn up by Whitaker
- Analysed the economic and social
failures of the 1950s
- Wasn't called a Five Year Plan - associated with Stalin.
- November 1958
- Solutions Proposed
- Free trade, emphasis on industry over agriculture
- Inefficient industries have to adapt & be more competitive
- "Sooner or later, protection will have to go
and the challenge of free trade accepted."
- Free trade, emphasis on industry over agriculture
- Changed Emphasis of Economy
- Encouraged exports, grants & tax-breaks
- Foreign investment
- Opportunity to learn skills needed for industrial development
- Encouraged exports, grants & tax-breaks
- Implementing the Programme
- 1959 - Fianna Fáil in power, Lemass Taoiseach
- Provided political leadership and drive to bring about change
- "A rising ride lifts all boats"
- "A rising ride lifts all boats"
- "There is no doubt that Lemass was the great moving dynamic spirit in all this"
- 1959 - Fianna Fáil in power, Lemass Taoiseach
- IDA
- Encouraged foreign firms to set up in Ireland
- British, American, German, Japanesse
- British, American, German, Japanesse
- Grants, tax-reliefs, exports, profits tax exemptions. All
export oriented
- Training in technological and managerial skills
- Grants to modernise factories and train
- Some changed and survived, others collapsed
- Encouraged foreign firms to set up in Ireland
- Agriculture
- Emphasis on grassland farming
- Eradicate Bovine TB
- More research & marketing
- Price supports for wheat, beet & milk
- Marts were set up
- Emphasis on grassland farming
- Success
- Unemplyment fell by 1/3
- Fall in emigration
- Population grew to almost 3 million.
- GNP grew by 4%
- Quick & dramatic turnaround
- National output rose, balance of
payments problems eliminated
- Unemplyment fell by 1/3
- Conclusion
- Lemass & Whitaker = progressive
- Steered Ireland's trade
liberalistaion & structural reforem
in 1960s
- 1963 - Second Programme.
Too ambitious, abandoned
in 1967
- Lemass & Whitaker = progressive
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