Mattie McGrath (Tipperary South, Independent)

I am delighted to speak on this Bill. While I welcome the changes proposed, they only tinker around the edges of what is required. The imposition of higher fines and the threat of imprisonment are not sufficiently substantial or anything like what is needed. The Government promised so much in so many areas that what is required in this respect might have gone under the radar. Considerable funding and resources need to be given to the Competition Authority for it to have inspectors on the road. Goodness knows there are enough inspectors in many other bodies such as NERA. Could they not be transferred from that area to this area?

Lack of competition is destroying our economy and that has been going on for decades. While the Government has only been in office for eight months and this measure is a starting point, the Government must know, as previous Ministers were aware, that cartels operate freely and above the law here. It is sickening what is happening across a wide sphere of activities, especially if one is involved in a family business or is a small independent operator. Such cartel operations range from the construction and retail industries to the agriculture sector.

I compliment the Minister of State, Deputy Sean Sherlock, on this appointment and wish him well. I know that he has strong views on this area and that he means well. In this context, I refer to the collapse of the banking system.

See this speech in context