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National Audit Office report: The Office of Fair Trading: Enforcing competition in markets

The Office of Fair Trading: Enforcing competition in markets

“Governments around the world have come to rely on competitive markets to deliver economic benefits, as this can be far more effective than regulation. However, anti-competitive practices are detrimental to consumers as they lead to increased prices, reduced choice and quality. The OFT is well respected and should be able to translate its intellectual leadership internationally on these issues into greater practical results. At present, many of the OFT’s investigations take a long time. The recent changes in leadership at the OFT present it with an opportunity to meet these challenges head on and to enhance the OFT’s reputation as an effective competition enforcement body.”

“Governments around the world have come to rely on competitive markets to deliver economic benefits, as this can be far more effective than regulation. However, anti-competitive practices are detrimental to consumers as they lead to increased prices, reduced choice and quality. The OFT is well respected and should be able to translate its intellectual leadership internationally on these issues into greater practical results. At present, many of the OFT’s investigations take a long time. The recent changes in leadership at the OFT present it with an opportunity to meet these challenges head on and to enhance the OFT’s reputation as an effective competition enforcement body.”

Sir John Bourn, head of the National Audit Office, 17 November 2005

 

 

Publication details:

ISBN: 0102936161 [Buy from TSO]

HC: 593 2005-2006

Published date: November 17, 2005