Combining competition and consumer protection under one watchdog creates a potent force. It can be found in the highly effective Competition and Consumer Commission in Australia, the Federal Trade Commission in the United States and in the Directorate General for Competition, Consumer Affairs and Repression of Frauds in France. It may be a one-stop shop for business, but I prefer to see it as the hammer and the anvil of consumer protection. The hammer promotes the most vigorous competition between rival firms. The anvil is there to protect consumers from the overzealous excesses of inter-firm rivalry.
Business is in the middle.
When these forces are used to good effect, and business responds positively and responsibly consumers enjoy huge benefits. High standards of service, plenty of choice and low prices - in short exceptional value for money. Nowhere is this better demonstrated than in the United States of America. I worked there, off and on for almost 20 years. I have over 120 entry stamps in my passports - I have seen it for myself.