Oireachtas Joint and Select Committees
Thursday, 15 May 2014
Select Committee on Jobs, Enterprise and Innovation
Competition and Consumer Protection Bill 2014: Committee Stage
2:40 pm
Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source
Following on from that global attitude, there is a very strong view at the moment that the huge multiples have turnovers as great as nation-states and currently wield enormous power. Little by little nation-states are starting to withdraw from proper management of such organisations because the relationship between companies and states are becoming unbalanced. It seems to me a basic concept that if I own a product and I sell it that I own it until I am paid for it, yet the Minister is shying away from the logic that the property is mine until someone pays for it and he refuses to put it in the legislation. It would provide security and confidence to suppliers that they have some level of leverage in the process if such a measure were in place. It seems that the Government is more confident, secure and comfortable siding with the power of large multiples.
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