Mary Butler (Waterford, Fianna Fail) | Oireachtas source

I thank Deputy Bruton for raising this important issue. I agree with what he has said. The recent rises in prices are driven by a number of factors and it is vital that all drivers of price increases are addressed. We have to make sure that we have, at least, transparent and competitive markets. The first point he made about consumers being informed of the renewal date is the most sensible thing I have heard in a long time because what happens is that people agree a deal with a service provider for 12 months but unfortunately that date can expire without them being informed. We are, as he said, always informed in regard to car insurance renewal so that is a very practical suggestion. Information is key, especially for consumers who too often are presented with details about prices and offerings that make it too difficult for them to compare and ensure they are getting the right service or product offering at the best price.

The Department of Enterprise, Trade and Employment has broad responsibilities for the protection of consumers' rights and ensuring competition. Like everybody in the House, the Minister of State for trade promotion, digital and company regulations, Deputy Troy, and I have a deep interest in all initiatives which are ultimately to the benefit of consumers. The Competition and Consumer Protection Commission, CCPC, which falls under the remit of the Minister of State, Deputy Troy, has a specific role under legislation to provide personal finance information and education to consumers, in order to promote financial resilience and support overall financial well-being. The CCPC uses its knowledge, skills and statutory powers to promote competition and enhance consumer welfare. To this end the CCPC has developed, maintained and actively promotes a suite of online comparison tools for customers across a range of financial products including current accounts, regular savings accounts, mortgages and credit cards. Another feature of the CCPC's money tools is the various calculators - the mortgage calculator, the extra mortgage payments calculator, the spending calculator and the budget planner. By using these calculators, consumers can see how much money they could potentially save. The CCPC also offers a guide on how to switch gas and electricity providers. The money tools facility was created to allow consumers to compare quickly and easily features across all of the major financial providers. All of its comparison facilities and consumer information are independently provided to help consumers to find the options that best suit their needs.

Clearly, the current levels of inflation are a cause for concern. The Government has already taken action, and will take more actions, to assist people. I recognise that some bills, such as energy bills, are increasing regardless of what provider a customer is with. Of course expanding and protecting consumer rights is also important. I understand that the Tánaiste intends to go to the Government shortly to publish a consumer rights Bill, which will be the biggest reform of consumer rights legislation in more than 40 years. The Bill will address gaps in existing legislation, consolidate the legislation, make consumer law clearer for traders and consumers and introduce new provisions on contracts for the sale of goods and contracts for the supply of digital content and digital services. For example, downloads and streaming will be subject to similar laws as apply to digital content in physical form. The proposed Bill will also improve the enforcement of consumer rights law and increase the enforcement powers of the CCPC. The debate on this legislation, when introduced, might be a great opportunity to have further discussion on the four points the Deputy raised: the need to be informed of the renewal date, to include a QR code on each bill, for regulators to introduce a code of practice and - the Deputy made a valid point in regard to electricity - to activate smart meters so that people can use electricity at off-peak times. All of these sensible proposals should be taken on board.

See this speech in context