Professional regulations keep prices high

THE cost of legal, medical and professional services could fall by up to 30% with the removal of anti-competitive practices, it was claimed yesterday.

Alan Gray, the author of a report commissioned by the Competition Authority, said the rules and regulations of many professional bodies resulted in unnecessarily high prices for consumers.

"The experience in other countries suggests that where barriers are removed, price reductions of 20%-30% would not be uncommon," said Mr Gray, managing director of consultancy firm Indecon.