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“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.”

“There are areas, particularly in the management of consumer credit licensing, where the Office of Fair Trading (OFT) has been constrained in what it can achieve. The OFT should take full advantage of the opportunities presented by recent consumer protection legislation and the outcome of the Government’s review of consumer credit to improve its performance still further. In this way the OFT can build on the implementation of past recommendations made by myself and the Committee of Public Accounts in its important work of protecting the interests of consumers.”

“It is hard for consumers to understand how to get a good deal for fixed-line telephones, and therefore many do not try. Oftel has been working to help raise awareness, but it needs to have a better understanding of why consumers behave the way they do and should also make it easier for them to compare the tariffs on offer, for example by building on its tariff comparison accreditation scheme.”