Dublin may impose price controls

THE IRISH government may impose price controls in a bid to force importers to pass on to customers cost savings resulting from the reversal of the traditional relationship between the British and Irish currencies.

Since Britain's withdrawal from Europe's exchange rate mechanism last month, Ireland's punt has been worth more than sterling for the first time. This has made imported UK goods cheaper, but ministers in Dublin do not believe the full impact of the change has been felt in the shops.

While some traders have introduced price cuts, others have stuck to existing prices.

Mary O'Rourke, the trade and marketing minister, who has authorised intensified official price monitoring, said yesterday that price controls would be considered on a range of goods to ensure that savings were relayed to shoppers. 'I am determined to make sure these savings are passed on in full,' she added.