I welcome the opportunity to speak on this. I commend the Minister on bringing it forward. Any Bill which helps to improve competition levels is to be welcomed and in that respect this Bill represents good news for consumers and for those seeking to start up small businesses.
The main objective of this Bill is to strengthen competition law enforcement and also to help with the clampdown on white collar crime. The Bill will provide for harsher penalties, longer prison sentences and increased fines for those found to be in breach of competition law. One of the key tasks facing the Government at present is to create the necessary environment to allow businesses to start up and flourish. The Taoiseach has repeatedly stated that his objective is to make Ireland the best small country in the world in which to do business. If that ambitious goal is to be achieved, legislation such as the Bill before us will play a vital role. It is important to ensure that adequate measures are in place to combat anti-competitive practices. The measures contained in this Bill represent a zero tolerance approach by the Government to tackling individuals or groups who engage in anti-competitive practices.
Given the current economic climate and the fact that many people and, in particular, many families are living on reduced incomes, it is more important than ever that the appropriate measures are in place to ensure organisations are not allowed to engage in anti-consumer practices. At a time when many people are struggling financially it would be remiss of the Government if we did not tackle cartel activity and price fixing. The fact the Bill is a further requirement of the EU-IMF programme of support does not take away from the fact it is most welcome and perhaps comes at a time when it is most needed.
The provisions contained in the Bill offer strong deterrents to anti-competitive activity. I welcome that the maximum prison sentence for individuals and companies convicted of price-fixing and similar crimes will be doubled from five to ten years. The fines imposed on those found to have committed competition offences will also be substantially increased both for hard-core offences and smaller offences. The Bill also proposes that any business convicted of offences such as price-fixing will be required to pay the costs of the investigation.
At the end of the day, business people who conspire to create cartels and drive up prices are hurting ordinary consumers the most. Competition law exists to protect and benefit consumers and this Bill is no different. The measures outlined represent an appropriate punishment for those who engage in such practices.
Business brings business and competition is good for business because it makes businesses review continually their operations and work practices in order to achieve efficiencies and remain competitive in the marketplace. We all know that to be successful in business we need to review constantly the way we operate and how we meet the demands of our customers. The Bill will help to maintain a competitive and efficient business culture.
In addition to the benefits this legislation will bring to the consumer it is important that primary producers get a fair price for their goods rather than see them driven down by low-cost selling. This concern is particularly relevant to the food industry, where the farmer is constantly working inside decreased margins. This is a major issue in my constituency of Cavan-Monaghan, which contains a large number of intensive farmers in the pig and poultry industry. Farmers have expressed genuine concern that below-cost selling is coming out of their own pockets and it is important that their fears are addressed. I ask the Minister to take these points on board.
The environment in which businesses operate is constantly changing and we must continue to strive for better competitive practices. Improved competitiveness is good news for consumers and businesses and will ultimately benefit the wider economy. I welcome the Bill and look forward to its implementation.