To ask His Majesty's Government what steps they are taking to combat anti-competitive practices in the consumer products sector, in particular (1) price-fixing, and (2) collusion.
Answered on
5 March 2024
Price fixing and collusion, in any sector, is illegal under the Competition Act 1998. The Competition and Markets Authority, the “CMA”, is responsible for investigating anti-competitive practices. As an independent authority, the CMA has discretion to investigate competition cases which, according to its prioritisation principles, it considers most appropriate.
The Digital Markets Competition and Consumers Bill, currently being considered by Parliament, will update the CMA’s powers to investigate anti-competitive behaviour. This includes powers to interview a broader range of individuals and require the production of information stored remotely when executing a warrant.