Competition watchdog calls for 'vigorous enforcement' to combat rising prices

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Canada needs to modernize its competition laws and chase down companies that collude to jack up prices, federal competition watchdog says

Competition commissioner Matthew Boswell made the case for competition policy as a tool to tamp down consumer prices in Canada, where shopping for groceries and pumping gas has become “anxiety inducing,” as he put it.at a May 26 event hosted by the Centre for International Governance Innovation. “Vigorous enforcement of competition laws is absolutely necessary. It deters business conduct that could otherwise make inflation worse, due to collusion with rivals or harm to the competitive process.

Boswell has emerged as one of the key advocates in a growing movement for changes to Canada’s competition rules. That movement has sprung out of concerns over “the rise of corporate titans” in Canada, Boswell said. Now, he is framing the fight to reform competition law as one between progressives and those who “just want to maintain the status quo.”

Boswell’s public criticisms of the law have become so brash that one Toronto lawyer recently called him a “.” In public statements, Boswell has argued the law is outdated for the digital age, out of step with our allies and too weak to instil any real fear in deep-pocketed corporations. In his speech this week, he said Canada’s competition law could also be doing more to reduce inflation.

 

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