Mary Coughlan (Donegal South West, Fianna Fail)

I propose to take Questions Nos. 53, 68 and 95 together.

I am aware of several recent media reports which have speculated on the introduction of price controls as a way of tackling prices. I have not made any commitment to the introduction of price controls. I have said that I will consider introducing legislation if I find certain retailers, or other elements of the supply chain, whose actions are resulting in the consumer not receiving fair value. I am prepared to consider all legislative options to address problems that persist or act as a barrier to fair competition or to the achievement of value for the consumer.

Much media comment in this area has focused on the possible introduction of price control measures as a means of tackling the current differentials in prices between this jurisdiction, Northern Ireland and the UK. Undoubtedly, the level of the differential in prices is giving rise to considerable concern, not only for consumers but also for the economy, given the impact they are having on employment, trade and revenue to the Exchequer.

Notwithstanding the Government's accepted preference of tackling price inflation through the promotion of competition and consumer choice, North-South price differentials have been a matter of concern for some time. Given this, I have been actively engaged with various elements of the retail sector over the past several months to ensure Irish consumers benefit by way of lower prices from the appreciation in the value of the euro, particularly against sterling. Given that the euro has appreciated by almost 30% in value over sterling in the past 18 months, it is unacceptable this has not translated into lower prices for consumers in all cases.

It is incumbent on all links in the retail chain to ensure the greatest degree of transparency possible as to the reasons for the current North-South price differentials. I will continue to pursue this issue with retailers, distributors, suppliers and manufacturers to ensure Irish consumers receive a fair deal and value for money when doing their day-to-day shopping.

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