asked the Minister for Industry and Commerce if he is aware that some furniture shops, which also engage in hire purchase business, charge £64 cash payment for suites of furniture for which they pay £30, and on which they obtain three months' credit, and, if so, if he will consider taking steps to curb such profiteering.
Ceisteanna—Questions. Oral Answers. - Furniture Hire Purchase.
asked the Minister for Industry and Commerce if he is aware that some hire purchase furniture shops in Dublin charge £96 for a suite of furniture for which they pay £30, and on which they obtain three months' credit, and, if so, if he will consider taking steps to curb such profiteering.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 2 and 3 together.
Although no specific complaints have been received in my Department, it has come to my notice that certain hire purchase furniture traders take high margins on goods sold for cash and on hire purchase terms and I am having the matter investigated.
Arising out of the reply, if the Minister finds, on investigation, that the prices suggested in the question are correct, will he consider taking steps to curb the practice?
I have asked the Prices Section of my Department to examine the profits of firms who engage in hire purchase selling of furniture, and when they furnish their information on the profits of these firms I will have them examined with a view to taking whatever action is necessary and desirable to safeguard the public interest.