𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Taking politics out of regulation and competition

✍ Scribed by Cosmo Graham

Publisher
John Wiley and Sons
Year
1999
Weight
30 KB
Volume
10
Category
Article
ISSN
0960-2356

No coin nor oath required. For personal study only.

✦ Synopsis

One of the themes of the recent Budget announcements has been the need to take politics out of competition matters. Thus, the Trade and Industry Secretary, Stephen Byers, said that the system of merger control could be improved if merger decisions were normally taken by independent competition authorities against a competition-based test. This announcement had been trailed in the Budget speech itself by the Chancellor, who drew a parallel between giving the Bank of England independence in the sphere of monetary policy in order to meet the longterm needs of the economy and consumers with setting out a new competition policy in order to meet the long-term needs of the country. This was interpreted as meaning that an independent competition authority would deal with mergers. 88

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