Competition chief to take up British post

THE chairman of Ireland’s competition watchdog is to quit after being offered the €370,000 top job at its British equivalent.

John Fingleton said yesterday that he would step down at the Competition Authority in October after five years in charge. The news came just two months after he was appointed for a second five-year term by the Government. The job commands a salary of approximately €137,000.

Dr Fingleton, a former economics lecturer at Dublin's Trinity College, beat off the challenge of 36 other applicants to take over at Britain's Office of Fair Trading (OFT).

The body enforces competition law and cracks down on anti-competitive behaviour and abuse of dominant positions.

Its powers are more wide-ranging than those of Ireland's Competition Authority, however, and include a strong consumer protection remit.

The OFT recently launched an investigation into alleged anti-consumer practices by Northern Ireland's big four banks Northern, Ulster, Bank of Ireland and the AIB-owned First Trust.

Dr Fingleton said he was sorry to be leaving his old job but was looking forward to his new role.

"I'm disappointed to be leaving the Competition Authority but look forward to the completion of important cases already initiated, such as those against the beef industry rationalisation agreement and an alleged home heating cartel," he said. These cases are due to come before the courts in the autumn.

"I'm also disappointed I won't be here to campaign for the removal of anti-competitive and anti-consumer restrictions, such as the Groceries Order and those within the professions. However, the Authority is a dynamic and robust organisation and is in a strong position to tackle the many challenges posed by decades of anti-consumer business practices and legislation," he added.

The British government's trade and industry secretary, Alan Johnson, said Dr Fingleton's "strong economic background" and his experience as head of the Competition Authority would be "of great benefit" in his new role.

Mr Johnson is the equivalent of Ireland's Minister for Enterprise, Trade and Employment.

The OFT's incoming chairman, Philip Collins, said Dr Fingleton had "considerable practical experience" as well as a strong interest in consumer policy issues.

Mr Collins and Dr Fingleton will take up their positions at the same time. They will replace Alan Vickers, who held the combined role of chairman and chief executive.