Tommy Broughan (Dublin Bay North, Independent) | Oireachtas source

The Cost of Doing Business in Ireland report has some findings that need to be addressed soon. The Minister of State referred to legislation coming into effect in 2021 but more urgency is required. To give an example, the report states that Ireland is the fifth most expensive economy of all 28 EU countries. Our prices are generally 13% above the EU average. Delving into some of the various sectors, we have some of the highest childcare costs in Europe and a lack of competition in beef processing, for example. The CCPC has been asked to investigate that. We have also had umpteen discussions here concerning high costs in the insurance industry and the Chairman of the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach has published a report on the issue. Regarding construction costs for commercial building, only London is more expensive than Dublin. We are a very costly economy across a whole plethora of activities and ordinary citizens have to bear those costs.

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