§ 5. Mr. Peter Bradley (The Wrekin)What powers he has to oblige businesses to reduce their charges to customers; and if he will make a statement. [77037]
§ The Minister for Competition and Consumer Affairs (Dr. Kim Howells)The Government take the view that the consumer is best served when prices are set in a competitive market. The Government are committed to ensuring that there is strong competition in UK markets. We have strengthened the UK competition legislation and powers and the budget of the Director General of Fair Trading.
§ Mr. BradleyDoes my hon. Friend accept that the initiatives that he and his colleagues are taking to ensure that the consumer gets a fair deal are long overdue but warmly welcomed? Does he also accept that the studies and deliberations of the Office of Fair Trading can take an exceedingly long time to complete and that all of us as consumers, particularly those on low incomes, often cannot wait for the outcome? Can he tell the House what voluntary agreements he is discussing with the utilities and retailers to ensure that, while we allow a reasonable margin of profit for the shareholders, we also get a fair deal for the consumer?
§ Dr. HowellsI would certainly not contemplate a situation in which the Government, or still less officials 513 in Whitehall, decided on the proper price for a product. I reiterate the statement I made earlier, which is that I am far more interested in ensuring that there is proper competition in the marketplace, that the rules are fair, that companies can compete properly and fairly with each other, that there is transparency of pricing and that all consumers get the maximum amount of information that they require as close a possible to the point at which they buy the goods or services. That is what will drive down prices, and increase quality.