asked the Minister for Industry and Commerce his views on the supermarket "price wars", in particular whether he considers them to be in the long term interests of consumers; and if he will make a statement on the matter.
Written Answers. - Supermarket Price Wars.
24.
I believe that price competition benefits consumers. However, I am concerned that short term supermarket "price wars", which are based on the selling of certain grocery goods below cost, are not in the long term interest of consumers, manufacturers, small retailers or indeed of the retail grocery trade as a whole.
The Restrictive Practices Commission concluded earlier this year that below cost selling is an unfair trading practice which is contrary to the common good. I agree with this view and I have, accordingly, made an order under the Restrictive Practices Act, 1972 banning below cost selling and making certain other changes in relation to the regulation of the grocery trade.
I would hope that the Bill to confirm this order will now receive a speedy passage through both Houses of the Oireachtas.