John Perry (Sligo-North Leitrim, Fine Gael)

Amendment No. 3 provides that agreements between the Competition Authority and undertakings under investigation will be subject to High Court order. That is a major step forward. As the Competition Authority is a statutorily independent body, we cannot go into the detail of its investigations. On Deputy McGrath's point in regard to independence and value for money, this is only one element of competition. Competition is different from competitiveness. The Competition Authority sets the rules for doing business in the economy of Ireland, North and South. This area has become very competitive when compared with the situation in the boom times when people did not check prices. Anyone in business knows that if they want to survive, they have to deal effectively with competition.

This amendment allows for agreements between the Competition Authority and the undertakings under investigation to be made subject to a High Court order, which will act as a significant deterrent to potential offenders. This is not about community service. People who breach the High Court agreement will be guilty of contempt of court, resulting in punitive legal consequences. What is provided for in this amendment enhances the powers of the Competition Authority. The sunset clause will only apply to orders made following enactment of the Bill.

As indicated, a review of Competition Authority resources is under way. We all know the importance of competition. It is about getting value for money and the survival of companies which are the backbone of the economy. We must provide recognition, understanding and support for the 200,000 Irish companies employing up to 700,000 people. This provision sets in place a strong template. On Deputy Flanagan's point, I believe more can be delivered with less. I chaired the Committee of Public Accounts for two and a half years during which time I heard report after report of abuse of money. It is amazing what can be done with competent management. This Bill will enhance that.

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