Excessive Prices Bill must be prioritised to protect consumers from high grocery prices

17 October 2023
  • Fine Gael and Fianna Fáil behoven to big retailers

As the cost of groceries soars another 10.5% in the last three months, Labour’s enterprise spokesperson Ged Nash has demanded Government action on Labour’s Bill to tackle price gouging.

Deputy Nash said:

“It’s clear as day, the large retailers are making a quick buck while working people struggle to keep the essentials on the table. Fine Gael and Fianna Fáil have utterly failed to tackle this issue.

“The farcical outcome of the Retail Forum in May was nothing short of a joke, and it’s evident that Government’s token interventions to date has made no changes for people at the tills.

“The greedflation that is rife is shameful and it’s this secretive behaviour that retailers are using to stiff people at the check outs.

“As a result of my campaign on high grocery prices, Minister Coveney said he was going to compel the secretive big supermarkets to publish their Irish profits.

“What was missing from the Competition and Consumer Protection Commission’s recent report on supermarket pricing was clarity on profits.

“You cannot decree that there’s no evidence of profiteering when you can’t get hold of data on actual profits.

“Labour’s Excessive Prices Bill would arm the Competition and Consumer Protection agency with real power to tackle this outrageous behaviour and act in the best interests of the consumer.

“It would mean the watchdog would have access to information on profits and pricing structure and enable the body to take real enforcement action on behalf of consumers where unfair prices are being charged and where the abuse of a dominant position is evident.”

“For so many, a trip to the checkout is more dreaded than a trip to the dentist.  The watchdog for consumers must have real teeth.

“We keep hearing that inflation should now start to moderate as rampant energy prices subside, but what is really hitting people where it hurts is soaring prices for basic essentials.

“Profits are rising for the retailers at a time when real incomes are falling for working people.

“We will bring Labour’s Consumer and Consumer Protection (Excessive Pricing) Act 2023 to First Stage in the Dáil next week.”

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