Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

I do not think that is a fair assessment. It is clear to those who have read the report that it mentions a number of areas in which we have improved our cost competitiveness. Indeed, we have improved our cost competitiveness in labour and property costs. We have reduced the rates burden. Most counties are reducing rates. As the Deputy said, the report alerts us to the need to make sure these gains are sustained and points to the fear that there will be an upward trend in costs when the recovery takes hold. That is why we will look carefully at specific areas in which we can make improvements. I have discussed this with my colleagues. I have asked the National Competitiveness Council to report each quarter on specific areas in which we could make changes with policy initiatives. Deputies are familiar with many of the areas in question, such as the question of access to credit, because we have discussed them here. The report provides us with a timely warning that companies should not push up their prices at the first sign of returning consumers.

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