Louise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

The French Finance Minister recently convened a meeting of several large food companies to discuss the price of food items and he managed to secure a pledge from firms like Unilever to cut prices. It is astonishing that it has not been done here. I think it should be done. The Minister will talk about the agrifood regulator and I have said its establishment is very welcome. However, the CCPC report highlighted that Unilever and Kerry Group reported pre-tax profit margins of 16.3% and 11.9%, respectively, in 2021. Last week's quarterly report by the Central Bank highlighted that profits contributed more to domestic inflation than wages in recent years. I respect the role of the retail forum, but there is a role here to bring these companies together. I ask again, given that the pressure was put on the retail forum and supermarkets regarding profiteering, if the Minister will commit to the forum and the public that he will convene a meeting of large food companies to discuss the potential for excessive profiteering.

See this speech in context