Gay Mitchell (Dublin South Central, Fine Gael)
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Question 80: To ask the Minister for Enterprise, Trade and Employment his views on whether the profit levels of grocery multiples operating here should be published; and if he will make a statement on the matter. [17895/06]

Eamon Ryan (Dublin South, Green Party)
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Question 145: To ask the Minister for Enterprise, Trade and Employment if, in view of the lack of discernible reduction in grocery prices following the abolition of the Groceries Order and the lack of price transparency along the supplier chain, he intends to review his decision not to oblige large retail companies to publish details of their annual turnover and profit. [18464/06]

Micheál Martin (Cork South Central, Fianna Fail)
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I propose to take Questions Nos. 80 and 146 together.

The Groceries Order was in place for many years and was abolished less than 2 months ago. I believe it is much too early at this stage to expect to see any significant impact on the grocery sector. However, I have asked the Competition Authority to monitor the sector and the Authority is currently putting in place a monitoring mechanism to track data and trends over coming months and years.

It is important to remember, however, that the Order was abolished for a number of reasons, including the fact that in certain circumstances it criminalised shopkeepers for passing on discounts to consumers. In deciding that the Order should be repealed the Government simply decided to remove an obstacle to competition.

As regards the reporting and disclosure requirements of grocery multiples, all companies operating in Ireland are free to establish and organise themselves in the most suitable form to promote and run their business, provided they comply with national and EU legislation.

The disclosure requirements regarding accounts reflect the requirements of the 4th and 7th EU Company Law Directives. These are found in the 1986 Companies (Amendment) Act and the European Communities (Companies Group Accounts) Regulations 1992, as amended, which allow multi-national companies with Irish subsidiaries to file annual returns (with audited accounts) for the financial affairs of the parent undertaking and the subsidiary undertaking as a whole.

I think it would be inappropriate to compel one specific sector to disclose commercially sensitive information publicly. If such disclosure were required generally in the economy it might discourage foreign direct investment, as many multi-nationals might prefer to establish elsewhere. Further, many companies operating in Ireland at present choose to register as "unlimited" companies which, depending on whether they are public or private, have lesser disclosure requirements.