Protecting consumers - Ineffective regulation

THOSE who bought property during the boom years, when we couldn’t build houses fast enough, and have discovered that the houses may not have proper ventilation, that fire safety regulations may not have been observed or that their homes are less energy efficient than they might be will wonder what part regulatory authorities played in the process.

European consumers who lose more than €22bn a year by buying faulty goods, which they cannot have replaced or get a refund, are entitled to ask the same questions.

These revelations run parallel to the almost incessant mantra from businesses about the urgent need to cut red tape and reduce regulation.

These positions contradict each other and it seems we have some way to go before society can trust business and regulators enough to relax protective legislation.