Question:
68 Dr. Upton asked the Tánaiste and Minister for Enterprise, Trade and Employment the steps she will take to regulate price increases in retail outlets; and if she will make a statement on the matter. [17877/00]
Written Answers. - Price Controls.
The policy on prices followed by this Government, and by all Governments since price controls were abandoned in the 1980s, is that prices should be set by competition in the marketplace.
To ensure that competition operates in the marketplace, 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.
While there may be a case for regulating prices where competition either does not operate or is restricted, such a situation does not generally obtain where retail outlets are concerned. I do not propose therefore to change the existing, long-standing policy on prices.