NCC calls for new competition legislation
It said Ireland was one of just a few countries who could not impose fines for breaking competition laws.
The NCC annual review said that though the Competition Act was a significant step toward enhancing competition law by strengthening the powers of the Competition Authority, the "absence of civil actions for violations of competition laws means that the High Court is unable to impose fines where the Authority bring a civil case."
Currently, only a small set of competition matters are sent for criminal trials such as cartel behaviour.
"Ireland is unique in the EU for not having fines for breaching competition law," the NCC chairman William Burgess said yesterday.
The Council also said that competition in Ireland was lacking in many sectors and that much of the existing competition was driven by multi-national rather than local companies.
It urged consumers to be more proactive in driving competition in prices and strengthening the Office of the Director of Consumer Affairs.
The NCC recommended that the Competition Authority speed up its investigation into the banking, insurance and professional services and work with government ministers to implement any changes.
The NCC Annual Competitiveness Review (ACR) also says that there needs to be urgent changes to the planning process if vital infrastructure is to be built.
It said there should a change in the method for calculating compensation for land that is the subject of Compulsory Purchase Orders.
"There should be a specialist body and a High Court judge which specifically deal with infrastructure projects and planning appeals," Mr Burgess said.
On the issue of broadband Internet service, the ACR found that Ireland finished last out of 13 countries surveyed for broadband takeover.
In terms of broadband prices, Ireland twelfth.
The NCC urged the government to intervene in the market tit Ireland was to become a hub of knowledge-based jobs.
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