James Browne (Wexford, Fianna Fail) | Oireachtas source

I can assure the Deputy that this regulatory authority will not be toothless or fruitless. It will be a very powerful regulatory authority. It will regulate an industry that we estimate is worth €6 billion. We are not sure of the figure, because, unfortunately, we do not have proper regulation in this area, and that is what we are addressing in the Bill. The regulatory authority will be funded by the industry, by way of levies. The impact on the taxpayer once it is up and running should be zero. It will not require any Exchequer funding. It is necessary for what is a significant industry, which has a very real impact on the lives of people across the country.

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