It provides a spur for firms to innovate, increase productivity and provide real choice for consumers. It equips them to compete in the global market place. Conversely, anti-competitive behaviour is a burden on the economy. A burden on businesses which want to grow by offering better value. And a burden on ordinary consumers who have to pay more for less.
Competitive markets enable small firms to grow.
Cartels and abuse of market power stifle the small firms which are increasingly the lifeblood of our economy. A modern, effective competition policy is essential in the new, global market of the 21st century. We have moved from sheltered to open economies, from local to global competition, from national to world wide financial markets. The main character of the new economy is change. Change driven by new technology, innovation and globalisation.