Michael Ahern (Cork East, Fianna Fail)

I thank all Deputies who have spoken. This is a technical Bill, covering company and consumer law. The provisions in the Bill facilitate business development and secure our competitive edge in key sectors. Our regulatory environment is a key component of our competitiveness and our international reputation. Where possible, we should ease the regulatory burden on business, as expressed by speakers today.

Deputy Eamon Ryan stated that we must provide flexibility to industry while keeping appropriate controls in place. A flexible, responsive, business-focused regulatory system has been the cornerstone of Ireland's development over the past 15 years. To ensure a level playing field it is also in our interest to give full effect to important EU directives. I appreciate the contributions of Deputies Hogan, Lynch, Eamon Ryan and others. Interesting points were made during the debate.

Deputy Hogan raised the matter of regulators but I do not accept all his points, specifically his claim about a lack of policy basis. I agree that we should debate the manner in which regulators operate. That is the basis of democracy.

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