| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Last Updated: Jul 6, 2011 - 9:09 AM


Bruton axes consumer agency board/ CEO job; Response to 'Rip-off Republic' became byword for waste
By Finfacts Team
Jul 6, 2011 - 7:41 AM

Email this article
 Printer friendly page

The board of the National Consumer Agency (NCA) and the position of chief executive are to be axed. The response to the perception of price gouging of consumers during the boom, which was dubbed, 'Rip-off Republic,' became a byword for waste itself.

Minister for Jobs, Enterprise and Innovation Richard Bruton TD said on Tuesday that the NCA will be merged with the Competition Authority, after the Government gave the go-ahead to the drafting of the Consumer and Competition Bill based on a draft scheme presented by the Minister to Cabinet.

The Programme for Government contains a commitment to “rationalise regulators to strengthen consumer regulation and promote the consumer interest”. Bruton said hisannouncement represents a significant first step towards the fulfilment of this commitment. It is expected that the legislation will be presented to the Oireachtas in the next Dail term.

In keeping with the commitment in the Programme for Government to scrap agency boards where appropriate, the new Consumer and Competition Authority will not have a CEO, a chairman or a board and will report directly to the Minister. Under current legislation, the NCA has CEO, a chairman and a board of 11 people. This measure will result in savings of approximately €170,000 per year in board and board-related fees.

Besides the ridiculous situation of having a ratio of about 1 board member to 2 staff, the small agency itself had a head who with a bonus was earning more than €200,000 plus pension - -  more than the chairman of the US Federal Reserve.

This 'champion' of the consumer could spend several hundred thousand euros on public relations but could not afford even a basic price comparison website.

In May 2008, the then new taoiseach, Brian Cowen, made waves when the Dáil microphones picked up a brief conversation with then Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan.

Fine Gael had earlier raised a report in the Sunday Business Post on the big disparity between what big British retail stores charge for the same items in Ireland and the UK.

“Bring in those people and get a handle on it,” Cowen instructed Coughlan.
“You know all those fuckers.”

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Irish
Latest Headlines
Ryanair revises up full-year profit guidance
AIB bank profitable in third quarter
Ryanair announces half-year profits up 32% to €795m
Ryanair benefits from improved customer service
Ryanair to buy 100 new Boeing 737 MAX 200
Finfacts server migration Thursday
State-owned Allied Irish Banks reports H1 2014 profit as bad loan charges plunge
Ryanair reports profit in its financial first quarter soared 152%
UK firm opens van dealership in Dublin
Ryanair reports 8% fall in full-year profit; US services to commence in 2019
Global Financial Centres Index: New York overtakes London; Dublin slips to 66 of 83 cities
Bank of Ireland reports “significant” improvement in 2013 results
Sale process of IBRC UK projects Rock and Salt completed
CRH says 2014 will be year of profit growth after reporting 2013 loss
Ryanair reports third-quarter loss
Irish Water says it saved €100m in setup costs
RSA Insurance fires two Irish executives for large loss/ accounting irregularities
Bank of Ireland will have to raise provisions by €1.4bn; AIB says it's "well capitalised"
CRH reports slightly improved third quarter
Central Bank says ownership of Newbridge Credit Union transferred to permanent tsb
Ryanair reports H1 profits rose by 1% to €602m
Dublin Web Summit: Irish Stock Exchange and NASDAQ OMX announce dual listing plan
Irish pension managed funds returned to growth during September
Dan O’Brien resigns as economics editor of The Irish Times
Central Bank says no action required on Anglo tapes revelations
Ryanair flew 9m passengers and Aer Lingus carried 1.1m in August
UK Competition Commission says Ryanair must cut Aer Lingus stake to 5%
CRH reports H1 2013 revenue dip and loss
Vodafone refunded UK after discovery of Irish tax haven deal
RBS reports half year profit; Ulster Bank posts reduced loss
Bank of Ireland cuts pretax losses in HI 2013 to €504m
Irish State-owned Allied Irish Banks reports losses of €758m in H1 2013
Service Announcement
Irish managed pension funds declined in June
VHI reports 2012 surplus of €54.3m; Health insurance made loss
Ex- Elan director says management / board "not competent to run a business"
Aer Lingus to put €140m in employees pensions fund; Ryanair apoplectic
Wednesday Newspaper Review - Irish Business News and International Stories - - May 22, 2013
Tuesday Newspaper Review - Irish Business News and International Stories - - May 21, 2013
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m - - up 13%