Michael Ahern (Cork East, Fianna Fail)

——in that proposal that is any different or better than what is being proposed in this Bill. If the Senators read the Bill carefully they will understand that the national consumer agency has a wide range of powers to decide what is of most concern to consumers and to employ its resources to most effect. That is a more effective approach than legislating in a prescriptive manner which allows the agency little flexibility in the way it responds to a particular set of circumstances.

Senator Leyden referred to the price charged for petrol by a garage in Usher's Quay. This is an interesting case. The most powerful sanction against businesses that charge excessively for its products is for consumers to bring their custom elsewhere. Customers must be assertive in their reaction to such practices but I do not agree that a national consumer agency has an important role to play in bringing such matters into the public domain.

Senator Leyden referred also to display of prices. I agree that the law in this regard is of great benefit to consumers. That is the reason the Bill retains existing legislative provisions in that regard. Indeed, the power to extend price display regulations is reinforced by this Bill. Consumers are well advised to make use of the information and report it to the consumer agency when business fails to comply with its obligations in regard to the law.

I agree with Senator Norris regarding his comments on prize draw scams, which do nothing but cost the consumer money. The Bill seeks to tackle such practices.

Senator Norris also referred to the role of other regulators. He mentioned ComReg and the financial regulator in particular. The Bill requires the NCA to enter into agreements with other regulators to avoid duplication of activities.

Senator Norris was wrong when he said that the groceries order had failed to bring down prices. As I mentioned previously, since the order prices have come down by 1.6% at a time when the headline rate of inflation is 4.9%. Senator O'Toole also referred to this issue but he did not give due credit to the impact of the removal of the order.

Senator O'Toole wanted to know the amount of money the NCA would have to spend. It will have a budget of €8.4 million in 2007 when combined with the Office of the Director of Consumer Affairs. That is almost twice what was available to the ODCA on its coming into being in 2006. Funding in future years will be decided as part of the Estimates process. Staff numbers have increased from 62 to 69.

Senator Hanafin referred to requests from overseas for people to provide their bank account details. That issue is probably better tackled and prosecuted under fraud and theft legislation. The likelihood is that regardless of the legislation in place, the perpetrators of such practices, who are often located in foreign parts far removed from these islands, will never be located or prosecuted. The best way to deal with the issue appears to be to educate consumers not to be taken in by such scams.

Senator McDowell referred to the consolidation of existing law. He admitted to not being a good consumer, one who is not price sensitive and does not shop around. Senator McDowell was right when he talked about changing consumer culture. That will be a key task of the national consumer agency. He was right, too, when he referred to the powerful sanction that is a name and shame policy. That is a key part of the Bill.

Senator Kitt and a significant number of other Senators referred to financial services, be it money lenders, equity release, which should really be called borrowing, credit cards and so on. These all fall under the remit of the financial regulator. However, the provisions of the Bill also apply to financial services and arrangements will be put in place under the Bill to ensure co-operation between the national consumer agency and the financial regulator.

Senator Ross said the Bill is particularly unsatisfactory, that it was a snow job producing another quango with no powers. I reject such suggestions. The Bill will have extensive powers and it is in these uses that those powers will be critical. Much of his commentary was directed against the financial services sector — auctioneers, stockbrokers, banks, investment managers, etc.