Written answers

Wednesday, 4 June 2008

Department of Enterprise, Trade and Employment

Fiscal Policy

10:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick East, Fine Gael)
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Question 260: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the measures in view of the 16% appreciation of the Euro against Sterling over the past twelve months, she is taking to ensure that this is passed onto consumers here in reduced prices on imported goods. [22308/08]

Photo of Mary CoughlanMary Coughlan (Donegal South West, Fianna Fail)
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I share the Deputy's concern that the benefits of the euro's appreciation against sterling are passed on to consumers.

I have taken a number of steps to bring my and the Government's concerns about this matter to the attention of retailers. On 28 May, I met with the Director General of IBEC and the Director of Retail Ireland to outline these concerns and to hear their views. I am having a further meeting on the issue today with a number of prominent retailers who are members of Retail Ireland. While it is not my function to fix prices for retailers, responsible businesses must recognise the need to deal fairly with consumers. I intend to continue my active engagement with retailers with a view to securing progress on the issue.

I have met also with the Chief Executive of the National Consumer Agency on this matter. As a result of these discussions, the Agency has agreed to undertake further price surveys, including surveys comparing the price of grocery and non-grocery items in a range of sectors in the Republic and Northern Ireland. More and better consumer information and awareness, and a willingness by consumers to act on that information, has an important contribution to make on this particular issue and in the development of a more competitive marketplace generally.

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