Feargal Quinn (Independent)

I am concerned about the 3.9% figure because it is what concerns the citizens of this country. It also concerns those who set up businesses here and hope to expand. Earlier, I expressed my concern about complacency. I have heard sounds of complacency coming from the Government side, with Senators saying not to worry because everything was all right. The Government amendment is the funniest one I have seen. It "notes that Irish inflation in EU terms is now not far off 2% per annum". It is comical to hear something being referred to in such terms.

The debate has been interesting and contained much good information. Senator Mansergh referred to a report by the National Competitiveness Council which provided a list of "key business input costs that weaken Ireland's overall cost competitiveness". Later on, the council stated that inflation creates uncertainty for businesses in their investment and operational decisions, thus diminishing prospects for growth in the future. We really must do something about concerns such as those expressed by the National Competitiveness Council.

We cannot control certain factors that influence our inflation, including interest rates and fuel costs. However, we can control the influence we have on people such as the energy regulator, the taxi regulator and others. We allowed the energy regulator to put price increases on gas and electricity but we did not put any limit on that. What will we do when the price of fuel comes down? Will we struggle to get it changed again?

The other issue concerns the taxi regulator. I was stunned by the fact that the Competition Authority is taking action because taxi prices are too low. It is insisting that those people who are competing by lowering prices are breaking the regulations. That seems outrageous and I cannot understand why it has happened.

If we are above the EU's HICP inflation rate every year——