Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I will not be too long. When I introduced the Bill to the Dáil earlier in February, I spoke about the imperative for fair and open competition for our businesses, our economy and our society. We know that the vast majority of businesses do not engage in uncompetitive practices but there are some who do. These practices drive out competition, drive up costs for ordinary citizens, and undermine the dynamic nature of our economy. This is why I prioritised this legislation as soon as I took office and was determined to bring the Bill before the House for consideration.

I sincerely thank the Deputies across the House for their overall support for the Bill to date and for the time they have taken to engage in depth with a Bill that, by necessity, is long and legally complex. The Bill is weighty legislation that required much consideration and redrafting to get right, particularly in light of our unique constitutional position, the large volume of legislation the Oireachtas had to consider due to the pandemic and the Zalewski judgment. It has been time well spent and I am confident that the Bill we discussed today is robust and will allow Ireland to effectively deal with anti-competitive behaviour at a national and European level in a way that is wholly in accordance with our Constitution.

Anti-competitive practices affect everyone, make it more difficult for honest businesses to prosper and have adverse effects on consumers. By strengthening the powers of our competition authorities we are taking an important step to ensure that Ireland's economy is open, fair and transparent. While enacting the Competition (Amendment) Bill is about meeting our obligations as a member of the European Union, it is much more than that. The Bill is about ensuring that Ireland's citizens are protected. The Government is committed to taking a tough stance on white-collar crime. As I said at the outset, most Irish businesses operate in a fair and honourable manner. We have an obligation to those businesses to effectively and efficiently deal with anti-competitive practices in order that law-abiding businesses can thrive. Competition benefits all consumers. It drives innovation and efficiencies. These efficiencies can be passed onto consumers in the context of competitive pricing.

Again, I thank Deputies for their positive reception of this legislation to date. I hope to keep the momentum going through the Seanad in order that the Bill can be passed sooner rather than later. It is important that our businesses will have the certainty and that consumers can reap the benefits of a dynamic and competitive economy.

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