He is spot on about anti-competitive practice in business
But now the Prime Minister has to decide whether to take his pro-competition campaign further. The resources of the enforcement agency, the Office of Fair Trading, are so limited that it can bring only about 20 important cases in any year. So it is relying on businesses and consumers injured by cartels to bring their own actions to recover from the cartelists their ill-gotten gains. Some of these private actions would follow on to cases already brought by the regulators; others would be new cases, overlooked by the regulators or beyond those agencies’ means.
But the cost of these actions, and the way the law is stacked against potential litigants, deters such suits for redress. Although 45 of the 202 companies surveyed by the OFT thought they had been harmed by anti-competitive actions, only five felt able to bring an action. Even more important, UK consumers have never recovered damages from the numerous cartels operating at the retail level. So it was good news when the Treasury’s 2006 Pre-Budget Report declared the government’s intention to eliminate barriers to redress for parties injured by anti-competitive behaviour.
There the matter stands. More precisely, there it sits — on the desks of Chancellor Alistair Darling, Secretary of State for Business John Hutton, and Baroness Ashton, Leader of the House of Lords. And in the Prime Minister’s in-box. There are, of course, valid reasons for hesitation — to make certain that the proper balance is drawn between making life more unpleasant for cartelists and overburdening the court system. But such issues cannot be resolved by inaction, which favours only the law-breakers.
More articles from: Irwin Stelzer | this section
Post this entry to: del.icio.us | Digg | Newsvine | NowPublic | Reddit
Advertisement
Nancy Dell’Olio makes an impassioned case for Keynesian economics as the necessary remedy for the global crisis. It is to the Cambridge economist that we should turn once more
Dylan Jones is astonished to find in Sofia that the former communist country has embraced his guide to the mores of modern life — and that not everybody looks like Borat
Matthew Castray looks back on the Australian Prime Minister’s first year in office and audits an administration which has reviewed much and done very little
Rod Liddle says that something has gone wrong when 15 South Lanarkshire social workers are sacked over a dodgy Gary Glitter joke while none of their counterparts in Haringey has even been reprimanded over the ‘Baby P’ case
Fraser Nelson says that the Pre-Budget Report killed off New Labour without landing a punch on the Tories. It has paved the way for a new Conservatism, in which Cameron woos aspirational voters, focuses on government debt and looks for responsible spending cuts
Martin Vander Weyer looks ahead to next week’s Pre-Budget Report and reflects on George Osborne’s contentious remarks about the devaluation of sterling. It looks like Gordon Brown is getting away with his borrowing binge — leaving the Tories isolated
After a week of clamorous competition between the parties over tax cuts, Fraser Nelson offers a guide to paying for them: a programme of spending cuts that would preserve core services but shave off the fat of the Brown years. All that is needed is political will
Brown’s golden rules have been exposed as a sham, says Irwin Stelzer, but the Tory response has been feeble. Their target should be the PM’s feathering of Old Labour nests
Last week, The Spectator said that ‘Keynesianism is not the answer’. Here, Tim Congdon says the government’s economic recovery strategy is a sham based on outmoded leftist thinking
Stand by for a mighty clash between two politicians, says Fraser Nelson. The now infamous dinner between Mandelson and Osborne was a cordial parting for power-brokers of different generations who will fight each other savagely for electoral advantage
Subscribe to Sky from £16 a month. Get free equipment and free broadband - Join Now. Sky HD - be amongst the first to have it - order now.
Subscribe to Sky from £16 a month. Get free equipment and free broadband - Join Now. Sky HD - be...
PORTA METRONIA, ROME Standing high on the top of one of the seven hills of Rome- the Coelian- this unique
ROME and PARIS: over 350 holiday rentals apartments listed: visit www.romanreference.com and www.parisreference.com or call +39 0648 903612.
Goldsmiths by Design Welcome to Ruffs! You have found a company of Goldsmiths that specialises in the manufacture, amongst other
Spectator Business | Apollo Magazine
Corporate | Advertising | Privacy | Terms
Spectator, 22 Old Queen Street, London, SW1H 9HP
All Articles and Content Copyright ©2008 by The Spectator | All Rights Reserved
jaytt
December 7th, 2007 1:25amWe have been here before - and such trials have always foundered on the rocks of rules of evidence. The HRA will not make it any easier to bring a case. There will be limitless appeals, m'learned friends will do very well thanks, and the taxpayer will be the loser.
Frank Leader
December 8th, 2007 7:10amI suppose that he has to be right sometimes, it's the luck of the draw.