Tánaiste meets with Retail Ireland

The Tánaiste met with senior representatives of Retail Ireland this evening (Wednesday 4^th June 2008). The delegation comprised many of the major retail operators in Ireland. The Tánaiste said that Irish consumers had not seen the benefit of Euro’s rise against Sterling in the prices they are paying for some goods in the shops.

In response, Retail Ireland said that every avenue is, and will be, pursued vigorously over the coming months to ensure that Irish consumers receive the most competitive prices available in the marketplace. They indicated that there had already been reductions in the price of some goods imported from the UK and that further reductions were in the pipeline. The issue was a complex one due to factors such as the forward purchase of both goods and currency. For these reasons the benefits of the stronger Euro would take some time to be fully reflected in consumer prices.

The Tánaiste welcomed the Industry’s commitment to securing a satisfactory outcome for Irish consumers. Retail Ireland underlined their willingness to play a fully participative role with the Government, the Department of Enterprise, Trade and Employment and its agencies to achieve this outcome.

It was agreed by both sides that there would be further engagement in the coming weeks.