The Irish economy is losing up to £1 billion a year because of the lack of competition, according to a research paper. Dr John Fingleton, of Trinity College's Department of Economics said examples of the lack of effective competition include the beer, taxis, tea, petrol, publishing and pharmacy markets.

Dr Fingleton called for the extension of existing competition rules to all sectors of the economy. He also urged the introduction of a "politically independent" system of competition policy. Economic Comment Page 2