I am satisfied the policy followed by this Government, and by all Governments since price controls were abandoned in the 1980s – that prices should be set by competition in the marketplace – continues to provide the best means of putting downward pressure on prices and ensuring value for money for consumers.
The Competition Authority is charged with fostering competition in all sectors of the economy and combating anti-competitive practices. The Tánaiste recently approved five additional posts for the authority – two economists and three lawyers – which will increase the authority's professional staffing level by approximately 70%. This demonstrates the Government's commitment to ensuring that competition law is vigorously enforced and that competition operates to the benefit of consumers.