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OFT publishes draft Annual Plan for consultation

OFFICE OF FAIR TRADING News Release (163/07) issued by The Government News Network on 26 November 2007

The consultation draft of the OFT's Annual Plan 2008-09 is published today, and the OFT is seeking comments from interested parties on the objectives and priorities set out in the plan.

Download acopy from the OFT website : http://www.oft.gov.uk.

The OFT's vision set out in last year's Annual Plan - delivering high-impact outcomes, being a centre of excellence and intelligence, achieving objectives in partnership and developing, promoting and attracting the best talent to the organisation - is reflected in the range of work that the OFT is currently undertaking. This includes major competition cases such as those involving British Airways and Virgin Atlantic on fuel surcharges, certain major supermarkets and dairy processors, companies in the construction industry and others which are not yet in the public domain. The OFT has also begun proceedings in the High Court and a market study on unauthorised overdraft charges by banks as well as market studies on medicines distribution and on housebuilding. Throughout 2008-9, we propose that we should continue to focus activities and interventions on those areas which pose the greatest threat to consumer welfare such as cartel behaviour, abuse of market power, the use of unfair contract terms and commercial practices, deceptive or misleading advertising, and mass marketed scams and the actions of 'rogue' traders. The OFT will do this against the background of very significant legislative change as a result of the Consumer Protection from Unfair Trading Regulations, the new Consumer Credit Act and the new Money Laundering Regulations.

Philip Collins, OFT Chairman said:

'This year we have taken firm action using our competition and consumer powers in markets which are not working well for consumers. We will continue to do so to ensure vibrant competition in open, well-functioning markets which benefit consumers, reputable businesses and the UK economy. The draft plan identifies key themes and areas for next year and provides a clear idea of how we intend to deliver on our commitments to the Government, consumers and businesses. We would like our stakeholders to contribute to the development of our plan and I look forward to hearing their views'.

NOTES

1. The closing date for comments is 18 February 2008. Comments can be sent to

Neil Smart
Strategy and Planning team
The Office of Fair Trading
Fleetbank House
2-6 Salisbury Square
London
EC4Y 8JX

Tel: 020 7211 8894
neil.smart@oft.gsi.gov.uk

Responses to this consultation will be made public unless marked confidential.