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Legislation fails to deal with large multiples:Toibín

8 November, 2011

Speaking on the Competition Bill in the Dáil, Sinn Féin spokesperson for Enterprise, Jobs and Innovation, Peadar Tóibín said: “Sinn Féin supports the measures in this bill to tackle corrupt practises. However the provisions of
the bill do not fully address this issue nor will it make our economy more competitive.
“The legislation fails to deal effectively with the abuse of dominant market position as exercised by the large multiples. These large multiples abuse their dominate market position to set the price for all suppliers.
“Many farmers do not have a choice, they are being dictated to. If they seek any level of negotiation they are at risk of losing their contracts. Retail prices are being held steady while supplier prices have been forced down.
“Local suppliers take the pain and large multiples take the profits. There is strong feeling amongst suppliers that implementation of existing competition laws is one dimensional.
“The legislation brought to the Dáil failures to fully protect our suppliers and our people. It is another missed opportunity by this government.
“Sinn Féin will continue to expose corruption and highlight the ineffectiveness of this government to deliver economic growth and jobs. ‘

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