As regards regulatory reform, the OECD acknowledges that we have had some success in introducing competition in certain sectors, particularly in telecommunications and aviation. Such competition has yielded greater choice, improved services and led to lower prices for consumers. It notes that there has been progress in substantially strengthening the power of the Competition Authority and that new reform initiatives have been taken in the energy and local transport sectors as well as in the professions. The OECD concludes that success in pursuing reforms in the sheltered sectors of the economy will be the key to safeguarding cost competitiveness.