Blog: UK competition fines soar in 2007
Dean Best | 3 January 2008
Some UK business leaders may have raised an eyebrow at news that fines imposed by the UK’s competition watchdog soared in 2007.
The Office of Fair Trading’s fines reached GBP237m last year, a figure that, according to the Daily Telegraph, would anger some who see the watchdog as having a “publicity-seeking agenda”.
But would consumers affected by price-fixing in the UK dairy sector see it that way?
The OFT said moves to fix the price of milk, cheese and butter costs UK consumers some GBP270m during 2002 and 2003.
Retailers like Asda and dairy processors including Dairy Crest claimed that were trying to help farmers. However, at that time, farmers were quitting milk production in droves, tired of not being able to make a reasonable return – or even cover costs – from selling their milk.
Perhaps if farmers had been paid a decent price in the first place, the supermarkets and dairy processors wouldn’t have to resort to such under-hand tactics.
Many consumers will applaud the OFT for attempting to hit companies in the pocket for their indiscretions.
Today (23 December) is just-food's last day before closing for Christmas. We'll return, raring to go on Tuesday 3 January - but of course there's been plenty of top-notch content that has gone live in...
The plethora of food manufacturing associations in the UK has been argued by some to be an impediment to the industry coming to a coherent position on the aftermath of Brexit and on what the sector sh...
An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Food market in 2017: need-to-know US trends
- Food market in 2017: big foodservice trends
- Could BRF's Turkey move pave way for OneFoods IPO?
- Ferrero insists Nutella not pulled from shelves
- UK's Bakkavor plays down IPO "speculation"
- Dairy giant Muller appoints new CFO, COO
- PepsiCo launches Walkers Mediterranean in UK
- Kellogg announces new "nutritious" line-up