Vol. 494 No. 4
117 Mr. P. Carey asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will make arrangements to assist the Office of the Director of Consumer Affairs in monitoring dual pricing in retail and other units in the context of the changeover to the euro; and if she will make a statement on the matter. [18388/98]
I, as Minister of State with responsibility for consumer affairs, am taking a particular interest in ensuring that consumers' rights are protected in the changeover to the euro. In addition to the national awareness compaign organised by the Euro Changeover Board of Ireland, ECB, established by the Minister for Finance to supervise all aspects of the changeover to the euro, of particular interest to consumers will be the question of the dual display of prices.
I agree with the approach suggested earlier this year by the European Commission and supported by the Director of Consumer Affairs, that voluntary codes of practice are the appropriate way to deal with this issue. Work on the development of the codes of practice is progressing in consultation with the director and any assistance the director may require in ensuring their successful operation is being discussed in this context.
118 Mr. P. Carey asked the Tánaiste and Minister for Enterprise, Trade and Employment the plans, if any, she has in relation to the changeover to the euro to prevent banks using the spreads system to hide charges to customers; and if she will make a statement on the matter. [18390/98]
The Consumer Credit Act, 1995 requires that a credit institution proposing to increase existing charges and-or to impose new charges on customers in the period of the changeover to the euro must formally notify the Director of Consumer Affairs. The Act empowers the director to direct institutions to refrain from imposing or changing a charge in relation to the provision of a service and additionally to publish, in such manner as he may specify, information on any charge for the provision of a service.
I am informed by the director that he has had discussions with representatives of the financial services industry regarding their changeover plans for the euro, in the course of which he advised that it will be a matter for individual institutions to make their case to him under section 149 of the Act. He received assurances from the representative bodies that the benefits of the single currency will be passed on to consumers.
