asked the Minister for Supplies if he will state whether, arising from the recent prosecution of two of the directors of L. J. Jordan and Company, Limited, Ennis, he intends to promote legislation to deal effectively with control of prices and to penalise profiteering, and if, pending such legislation being passed, he will by Emergency Powers Order require all firms enjoying a monopoly or quasi-monopoly rights or protected by quota arrangements or high rates of tariff to submit to audit and report of the type imposed by statute in the public interest on the Electricity Supply Board.
Ceisteanna—Questions. Oral Answers. - Control of Prices.
I cannot accept the view that the prosecution of certain individuals for breaches of the law is sufficient justification for special legislation imposing serious obligations on all firms engaged in protected industries. My existing powers under the Emergency Powers Act have been effective generally for the control of prices and profits and it is not clear what additional advantage is to be derived by the substitution of another system of audit for that required at the moment.
Is the Minister satisfied that the powers he has referred to are being operated effectively to prevent excess profits by this firm?
No, and I have said so. I have said that there were circumstances which made it difficult to operate them.
And, in fact, they were not effectively operated?
The Deputy must not try to read into my words a meaning which they do not bear.
Did these powers operate effectively to prevent excess profits in this case?
I referred to the matter in another place. Perhaps the Deputy will read what I said there.
Will the Minister answer the question here?
It would take too long. It cannot be answered in a sentence.
He said on a former occasion that excess profits do not mean profiteering.
Neither do they.
He will not answer at all now.