Written answers

Tuesday, 22 November 2016

Department of Jobs, Enterprise and Innovation

Consumer Protection

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats)
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552. To ask the Minister for Jobs, Enterprise and Innovation her views on a marked differential that goes beyond a currency conversion and its impact on consumer shopping habits; the steps she will take to ensure that consumers can be protected from paying more for the same items sold by the same retailers operating here and in Britain (details supplied); and if she will make a statement on the matter. [35857/16]

Photo of Imelda MunsterImelda Munster (Louth, Sinn Fein)
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556. To ask the Minister for Jobs, Enterprise and Innovation if her attention has been drawn to the fact that many retailers which convert their prices on goods from sterling to euro, and that operate in both Britain and Ireland, have not readjusted their prices in accordance with the recent fall in sterling against the euro; his plans to rectify this in the immediate future; and if she will make a statement on the matter. [35898/16]

Photo of Mary Mitchell O'ConnorMary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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I propose to take Questions Nos. 552 and 556 together.

I am aware of the concerns being expressed that the benefits of recent movements in exchange rates between the Euro and Sterling are not being passed on to consumers. This issue has been receiving public comments in the last few weeks.

Yesterday I raised the matter at the Retail Consultation Forum to express the Government's concern at this issue and the need to pass on to consumers the benefit of the Euro's appreciation against Sterling. I was advised at that meeting that some of the differentials between prices quoted in Euro and Sterling may be attributed to such factors as the exchange rates at the time of the purchases by the retailers, the relative costs of doing business between the two jurisdictions and tax rates.

As I stated at the Forum, it is my view that retailers should explain to their customers and to the economies in which they operate why there are such price differentials between the two currency areas. I believe this will also address issues such as consumer confidence in the retail sector.

I wish to underline the Government's commitment to ensuring that the benefits of the stronger Euro are passed on to Irish consumers. Following yesterday's meeting of the Retail Consultation Forum, I am working with the sector to ensure an ongoing response by retailers in the period ahead with a view to securing satisfactory progress on the issue.

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