Government response to petition 'VistaOvercharge'

Thanks to Larney for the heads up

The UK government have responded to the Vista Overcharge petition.

"Apart from a limited number of exceptions, no price controls operate in the UK and no restrictions are placed on the prices which business may charge consumers. Retailers are free to set their own prices, but they are required to display them in an unambiguous, easily identifiable and clearly legible way in order to enable consumers to compare prices in different outlets and so obtain the best value for money. The Government takes the view that its role is to facilitate competition by promoting open and competitive markets, rather than to control directly the price setting behaviour of the firms within the market. But regulation may be necessary where competition is not working effectively or is not fully developed.

Under the UK competition law it is the responsibility of the Office of Fair Trading (OFT) to investigate allegations of anti-competitive behaviour and possible abuses of market power. The OFT can act if the pricing levels are the result of anti-competitive behaviour. All details should be forwarded to the OFT at: Fleetbank House, 2-6 Salisbury Square, London EC4Y 8JX."

View: Vista Overcharge Petition

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