CCPC opening statement to Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Good afternoon, Cathaoirleach and members of the Committee.  

I am Brian McHugh, the Chairperson of the Competition and Consumer Protection Commission (CCPC), and I am joined by Geoffrey Gray, Member of the CCPC, Gráinne Griffin, our director of Communications, Consumer Information and Financial Education, and Simon Barry, our director of Research, Advocacy and International. 

The CCPC is a dynamic and evolving state agency responsible for promoting and enforcing compliance with competition, consumer protection and product safety law. We also have important and expanding roles in relation to digital markets and data as well as financial education.

Consumer protection

Our website, consumer helpline and public awareness campaigns inform and empower consumers on their rights and redress options, recording approximately 2 million web visits and 40,000 helpline contacts annually. 

Our consumer protection enforcement teams enforce a wide and expanding range of legislation aimed at protecting consumers. We do this through active use of our inspection and enforcement powers, including prosecution of major retailers for breaches of the law.  

Our market surveillance division works at all levels of the supply chain to ensure compliance with the robust product safety rules serving EU consumers. In 2025, we successfully prevented over 276,000 unsafe products from reaching the Irish market. 

Competition 

Our competition teams take enforcement action against anti-competitive behaviour by businesses, including tackling cartel activity that harms taxpayers. For example, five school transport operators were recently found guilty of rigging bids in a public tender competition following a CCPC investigation.  

We also have important merger review functions to ensure market consolidation does not harm consumers and businesses. 

New responsibilities 

Our mandate has recently expanded to include new areas of data and digital responsibilities under the EU Data Act, AI Act, EU Accessibility Act and EU Digital Services Act.  

Research and advocacy 

We undertake and publish a range of research studies to promote open, competitive markets and protect consumer interests. We have published consumer insights and advocated for key solutions in various markets, including homebuying, conveyancing and taxis. And we have just announced a market study into how well the retail pharmacy sector serves consumers.  

Financial education 

The CCPC also has an important dual mandate for financial education. 

Firstly, we educate consumers on personal finance products, including their real costs, risks and benefits. We provide independent, impartial comparison tools to demonstrate to consumers the financial benefits of switching and the best value products on the market for their needs.  

We use media and public awareness campaigns to amplify these messages. Recent campaigns have covered travel insurance, Christmas credit choices, pensions, Buy Now, Pay Later credit, and mortgage switching.

The second aspect of our mandate is to promote the development of financial education and capability nationwide. Working closely with the Department of Finance and the Central Bank, we are proud to play an active and leading role in Ireland’s first National Financial Literacy Strategy, an essential framework for growing and coordinating financial education across all sectors of society. 

Research on financial literacy levels in Ireland  

In 2023 we measured adult financial literacy levels in Ireland, working with the OECD to create an evidence base that could inform our strategic priorities and allow us to evaluate our progress.  We look forward to sharing the results of the follow up 2026 study once our analysis is complete.  

Our financial education research activities have also included studies on industry actions that can improve financial wellbeing, qualitative research on what consumers need from our switching tools and homebuyers’ supports, and analysis of consumer insights to inform our awareness and advocacy campaigns.  

Financial education for children and young people  

Delivering financial education to young people is a priority for the CCPC. We have worked closely with the National Council for Curriculum and Assessment to advocate for the integration of financial education across the Irish school curriculum. The CCPC "Our Money, Our Future” initiative also supports post-primary schools and Youthreach centres to undertake their own financial literacy projects. 

Financial education for adults and in the community  

We resource targeted financial education for communities with lower levels of financial literacy and additional needs through our new partnership with SOLAS and the Adult Literacy for Life Office, distributing €200,000 annually. We also collaborate with workplaces to deliver financial literacy directly to employees.  

Buy Now, Pay Later 

A critical theme in financial education is understanding credit and when to use it. While payment plans are a long-standing feature of the consumer landscape, new Buy Now, Pay Later (BNPL) products are now used in minor day-to-day purchases and are even promoted as financial management tools.  

Research, including studies by the Central Bank, records a sixfold increase in global BNPL usage between 2019 and 2023 and shows concerning trends. BNPL often makes consumers more likely to buy things they don’t need and spend significantly more than they had planned. It is more likely to be used by those who are already financially vulnerable. And perhaps most concerningly, many consumers do not realise that BNPL is a form of credit.  

The CCPC has repeatedly highlighted the risks of BNPL in our consumer awareness campaigns and will continue to collaborate with other stakeholders to increase financial literacy in this area.  

Fraud and scams 

Addressing fraud and scams is a shared concern for all organisations working across financial services, consumer protection and financial education.  

The CCPC has developed a Scam University hub on our website and run award-winning scam awareness campaigns for consumers. We have also published real-life fraud case studies and appeared in local and national media to highlight moments of increased fraud risk, including Black Friday sales and changes to customs charges.  

We attend Ireland's Cross Sector National Anti-Fraud Forum, established under the National Payments Strategy, where we ensure our work in this area is informed by and coordinated with other public and industry stakeholders.    

Future financial education plans 

The CCPC has a crucial role to play in improving Ireland’s financial literacy and financial wellbeing levels. We look forward to growing our work in this area through our newly established Financial Education Division, our participation in the National Financial Literacy Strategy and continued collaboration with a wide range of stakeholders.  

We are happy to answer any questions.