Vol. 544 No. 3
98 Mr. Perry asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has satisfied herself that there is sufficient regulation to protect consumers against unwarranted price rises during the changeover to the euro; and if she will make a statement on the matter. [28800/01]
The introduction of the euro should not, of itself, require any trader to increase prices. It is open to any business to increase their prices if it wants to do so, and changes in prices occur for various reasons and at different times during the trading year. In a competitive environment this is perfectly understandable.
Successive Governments have recognised that the encouragement of a competitive environment and promotion of greater price awareness is a much better way of ensuring value for money for consumers than the imposition of price control legislation which would require that all price adjustments for all products be approved in advance. The introduction of the euro does not change this fact.
The vast majority of traders want to behave honourably and fairly during the changeover to the euro. Some unscrupulous traders may seek to use the introduction of the euro as an opportunity to introduce unwarranted price increases. However, the retail market especially is highly competitive and I believe the market will punish those who seek to take advantage of the changeover in this way. Consumers need to realise the power they have if they feel they are not being treated fairly, and that is simply to take their business elsewhere.
The large numbers of traders who have already signed up to the codes of practice on dual display of prices are entitled to display a special logo approved by the Director of Consumer Affairs as evidence of a commitment to carry out the changeover fairly. These traders recognise that it makes good business sense to be in a position to demonstrate to their customers that they have made a commitment not to seek unfair advantage from the changeover. I encourage consumers to shop where they see this logo displayed. I also strongly urge retailers who have not yet done so to contact their trade association or the Director of Consumer Affairs without further delay and sign up to one of the codes of practice on dual display of prices.
