Pat Rabbitte (Dublin South West, Labour)

I have a specific supplementary question. The Taoiseach spoke about the Competition Authority. He quite properly pointed to excessive profit taking in certain areas of the economy and, indeed, excessive profits from fee increases imposed by various professionals. There is no doubt such practices have existed for the past dozen years but, other than the Taoiseach's assurance that the sectors have been analysed, what has actually been done to address the issue? Reports have been published and exhortatory work done by the Competition Authority but am I correct in saying, for example, that the only two cases prosecuted in the High Court by the Competition Authority concerned pet food for prize Chihuahuas and the League of Credit Unions? If the Taoiseach were to take on collusive activities, abuse of dominant position and cartels in this economy, would he start with pet food for prize dogs and if he were dealing with abuses in the financial services sector, would he start with the League of Credit Unions?

I think I am correct in saying that the Supreme Court has since reversed the extraordinary decision taken in the High Court. The proposition that there ought to be more than one League of Credit Unions is like saying there should be two GAAs or FAIs. I never heard anything so ridiculous in my life. Is it not time that the Competition Authority took on some of the real forces and vested interests which are contributing to the inflationary pressures that threaten this country's economic situation?

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