OFT Tries New Anti-Competition Ideas

The OFT is today publishing a discussion paper and announcing informal consultation on facilitating private actions in order to optimise the effectiveness of competition law in the UK, and to make redress for consumers and business more accessible.

Strong competition regimes are essential for open, dynamic markets. They drive productivity and innovation and ensure the efficient allocation of resources, and are good for consumers and business. Infringements of competition law cause significant harm to both consumers and businesses. Recent experience shows that harm to consumers may run into tens of millions of pounds in any given case. However, up until now consumers have recovered virtually no compensation. Businesses also find it difficult to recover losses and to remedy the competitive disadvantage they may have suffered from infringements of competition law.