Neale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

Deputy Nash and I had an exchange last night in the Chamber during Private Members’ business, during which I issued a very stark warning. Price caps have been introduced so far this year in the EU in both Croatia, which had food costs inflation of 20%, and in Hungary, which had food costs inflation of 50%. Let us be frank: these have not worked. They have actually had a damaging impact on the wider economy and crucially on society, including those in supermarkets.

It is a power that is open to the Government under the Consumer Protection Act 2007. However, as has been discussed quite a bit in all parts in the Chamber so far today, the priority is to engage openly and robustly with the retail sector this afternoon in a model similar to the one the French have taken. We look forward to that meeting and indeed to meeting the sector again in six weeks’ time.

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