Coalition 'extremely reluctant' to impose price caps

Neale Richmond claims introducing price controls will not work in Ireland

Minister of State Neale Richmond TD cited the examples of  Croatia and Hungary which he said found price caps were not successful. File picture: Gareth Chaney/Collins

Companies have been accused by the opposition of using the inflation crisis as a way to make extra profits, amid calls on the Government to intervene.

However, the Coalition is “extremely reluctant” to go down the route of price caps on food and other essential items, with minister of state Neale Richmond claiming it will not work in this country.