Councillor Michael Sheehan has called for the break-up of the Consumer and Competition Commission into two separate entities.
It is clear to many agencies but clearer to consumers, there is no competition in the basic goods and services that we purchase and use everyday. While we are an affluent nation, we feel absolutely impoverished.
From the producer to the supplier to the retailer, people are getting gouged. What we need are two independent statutory agencies that have a laser like focus on breaking up cartels, injecting competition and robustly defending consumer rights with a strong legislative arm to punish those deliberately blocking competition.
As a candidate in the general election, it was one of my main commitments to enact. It is now in the Programme for Government but no sign of any proposals thus far.
The Competition Authority should have teeth to pursue any sector for investigations and fines for breaches and anti-competitive practices.
The Consumer Authority would vociferously stand up for consumer rights to ensure. That companies and retailers honour the law and be an advocate for consumers nationwide.
Both agencies could be funded by a levy on the supernormal profits of the multinationals and outlets that are literally raking it in.
The old Competition Authority was a nemesis for many industries and delivered for consumers: a Competition Authority Nua would ensure utilities, food, finance, and the supply chains would come under the spotlight to ensure that companies are not taken advantage and that prices drop to realistic levels again.
The cost of living isn’t going away soon; we need agencies who are going to meet the challenge head on.
