asked the Minister for Industry and Commerce if price increases have been granted in respect of approximately 750 items (details supplied); if so, if he is satisfied that these increases are warranted; and if he will make a statement on the matter.
Written Answers. - Price Increases.
346.
I have had a check made on price increases for the firms named by the Deputy to which, on recommendations made by the National Prices Commission since 1st July, 1972, I raised no objection. The check showed that the price increases to which I raised no objection included about 570 individual items for the firms concerned and the increases varied in amount from about 1 per cent to 30 per cent. It will be appreciated that a single increase approved for a firm normally embraces a number of individual items.
Price increases brought into operation in recent months may have been cleared by me before 1st July last; increases may also be caused by increased prices paid by importers. I do not require importers to notify me of price increases provided they are not increasing their margin of profit.
347.
asked the Minister for Industry and Commerce if he has investigated a price increase in respect of a wide range of batteries (details supplied); and, if so, with what result.
Under existing prices legislation all manufacturers are obliged to give me advance notice of one month of proposed increases in prices. On the advice of the National Prices Commission I have, however, decided that firms fulfilling certain conditions may be exempted from detailed price control but such firms continue to be subject to the requirement of giving advance notice of one month.
In July, 1972, the manufacturers who are the subject of the Deputy's question, applied for exemption from detailed price control and since they fulfilled one of the conditions necessary for exemption (i.e. that 75 per cent of their output was protected against competing imports from Britain by a tariff of 10 per cent or less), I decided, on the recommendation of the National Prices Commission, that they should be exempted from detailed price control on the understanding that the dates and amounts of all proposed increases in the home market prices of their manufactured output were notified to me in advance.
I have received notification from the firm that they proposed to increase their home market prices for automotive replacement batteries from 30th October, 1972, by an average of 9 per cent.
348.
asked the Minister for Industry and Commerce if he is aware that retailers in Limerick have been advised of a substantial price increase due to VAT on a range of goods (details supplied); if he has investigated this matter; and if he will make a statement thereon.
Certain goods which, prior to 1st November, 1972, were subject to turnover tax at the rate of 5.26 per cent are now subject to VAT at the rate of 16.37 per cent. The goods listed by the Deputy appear to fall into this category.