Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The consumer benefits from low inflation and also from competition in the market. I understand there is significant competition between the supermarket chains, which has brought down the cost of the weekly shopping basket. The consumer will also benefit if future Finance Ministers have the capacity to reduce tax impositions or levies. The principal benefit for the consumer is that, as the economy stabilises, pay increases will become part of the norm once again. Already, I note that between 40% and 50% of private companies have given pay increases in the past 12 months. This trend will probably continue as the economy grows very strongly. The one word to describe everything that is happening is "normalisation" of the process. This is returning to being a normal economy where the normal rules apply. The consumer will obviously benefit in that sense.

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