Three cheers for competition (and for Paul Goldsmith)
On Tuesday, Minister of Commerce Paul Goldsmith decided not to proceed with the long debated criminalisation of cartel behaviour. The Minister’s explanation was telling: “In weighing up the benefits of criminalising cartel activity, the government had to consider the significant risk that cartel criminalisation would have a chilling effect on pro-competitive behaviour between companies.” If you are unfamiliar with competition law, you would be surprised by such a statement. Read more