We have been here before. Britain enters a recession and the
government of the day decides to sideline the body charged with
looking into anticompetitive behaviour.
That was back in the 1920s, when the post-World War I boom
ran out of steam and recession loomed. The government quietly
put the UK's first shot at competition regulation the
Committee on Trusts to sleep, as the policy emphasis
shifted to greater government intervention.
Plus ça change. Here we are in 2009, with
suggestions that the government has abandoned its commitment to
competition law enforcement in the face of the recession. Is
that right? Do politicians believe that antitrust is only good
for the good times? How should businesses in the financial
services sector react if politics really is returning to
Government reforms It was in the good times that the present
government instituted what were probably the most...