Micheál Martin (Cork South Central, Fianna Fail)

This is an ongoing issue. It would be incorrect to suggest that we have just become associated with this issue. The consumer legislation we passed in this House is a good example of simpler consolidated legislation that reduces the regulatory burden. It repealed a number of outdated historic Acts. We need to create a pillar of legislation that can be accessed by consumers, business and industry. The Minister of State, Deputy Michael Ahern, has initiated the mammoth task of updating and reviewing company law. That work, which is well advanced, will work wonders in simplifying the regulatory obligations to be fulfilled by those establishing new companies, etc. The great deal of significant legislative work that is under way will reduce and simplify the regulatory burden. We need to ensure that regulation, which is important to all our lives, is administered in a simple, efficient and effective manner.

The Deputy asked about the areas on which we will concentrate. He also mentioned the international dimension. We have spoken to the Dutch authorities. Some civil servants from the Netherlands have come to this country to explain how the standard cost model works there. We have some concerns about the applicability of that model to Ireland, as we do not want to create a new layer of bureaucracy. That is something we are teasing out.

We have set up an interdepartmental group with business people on it which is headed by the Secretary General of my Department. It will become a clearing house for regulation, as was the case for the financial services sector. That arrangement was very effective in having a structured dialogue between the sector and Government. Likewise, in this case we want a structured, ongoing and sustainable dialogue between business and Government on the regulation issue.

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