Reforms in Competition Policy in the UK - Essay Example

Comments (0) Cite this document
Summary
This research is being carried out to evaluate and present reforms in competition policy after 1998. The researcher of this essay aims to pay special attention to the laws related to mergers and restrictions of competitive agreements and dominant positions in the market…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.3% of users find it useful
Reforms in Competition Policy in the UK
Read TextPreview

Extract of sample
"Reforms in Competition Policy in the UK"

Download file to see previous pages This research will begin with the statement that in any business environment, competition is a vital element that brings about both positive and negative results. This is because it is seen as a sort of reward for innovation and efficiency, it is also enhances productivity within any given country or region. In addition, competition ensures that customers can get low price and more choices. Besides this, their living standards are raised. Indeed, if competition is supported by the right competition policies, then a country can be well on its way to achieve economic prosperity. In this context, policies in this area are necessary to ensure that trade practices are regulated, undue competition is restricted through legislature and that markets are strengthened so that businesses can become viable in the global market. Competition policies are designed to ascertain that the financial market is opened up. Besides this, it also floats the country's currency and decreases trade barriers. There are a number of direct benefits that come out of competition policies to businesses; some of these include low costs for utilities like electricity, telephones and other telecommunication charges. Transportation costs are also reduced like rail freights and port. However, country's undertaking such policies should be aware that this involves a high cost to them. There are a large number of parties that are affected negatively by this kind of scheme. The first are industries, the second are households, the third are industries and even regions n general. Households are the ones who have to bear the burden of job cuts and consequently loss of income spiralling from competition policies. Prime Minister Gordon Brown believes that the function of competition policy is to promote competition and to reinforce markets. He believes that its purpose is to regulate the business environment such that purchasers and challenges can be protected. In addition, incentives in business mustn't be obliterated; they should still be able to create, invest and take risks. Recent changes in competition policy have been centred along these latter mentioned principles. The UK parliament has looked at merger laws that were passed in the competition policy of 1998. This merger law has been placed under scrutiny by parliament through the Enterprise bill. This Bill that was passed in the year 2000 was designed to regulate mergers within the business environment. The law stipulates that mergers should be made only when they do not limit competition. Mergers that give such indications are to be taken to the Office of Fair Trading. This body will determine whether the merger should be subjected to further scrutiny under the Competition Commission which has the mandate to halt or allow progress of the merger. These reforms are aimed at providing some additional safeguards against unfair trade practices. Some business owners contemplating mergers may have unfair possession of assets if the mergers are completed thus justifying the need for regulations. There are a number of services that have blockages in regards to mergers. An example of an unhealthy merger that was prohibited in the year 1999 was the Manchester United/ BSkyB merger. Such a merger would present considerable problems to the business environment surrounding media communications. Firstly, the merger was going to give the media Company undue vertical privileges that would inhibit other players in the industry. Consequently, this effect would then trickle down to the final consumer and cause dissatisfaction because only one company has exclusive privileges and will therefore have more market power. Restrictions of competitive agreements and dominant positions in the market Competition policies in the recent past also regulate provision of services that are outside the traditional domain of any business. This has received a lot of emphasis after technological advancements. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Reforms in Competition Policy in the UK Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.org/politics/1524652-competition-policy-in-the-uk
(Reforms in Competition Policy in the UK Essay Example | Topics and Well Written Essays - 1500 Words)
https://studentshare.org/politics/1524652-competition-policy-in-the-uk.
“Reforms in Competition Policy in the UK Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/politics/1524652-competition-policy-in-the-uk.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Ecomomic Regulation or competition policy
...of other organizations hence maximizing benefits and minimizing cost and risk. Complete regularization of the economy can be as damaging as leaving it completely open and competitive as we saw in the case study discussed. Government should be minimal but economy can be left unguarded and uncontrolled. The benefits of the society must be safeguarded without compromising on the efficiency of the firm. A complete and thorough analysis of all the factors and agents involved is necessary before any policy decision can be made. Bibliography A. Mitchell Pollinsky, Steven Shavell. Handbook of Law and Economics. UK: Elsevier BV, 2007. Chris J Dolan, John P Frendreis. The Presidency and Economic...
9 Pages(2250 words)Research Paper
Reforms Regarding Easements In The UK
...? Reforms Regarding Easements in the UK Word Count 750 (7 pages) What reforms would you recommend in the law relating to easements? I. Introduction (100 words) Have you walked past a pond, wanting to fish, not sure who owned it? How many times have you walked across a sidewalk wondering if anyone owned it? Here easements will be discussed, which are pieces of shared property. An easement, in English law, is basically defined as being a type of right that one has with regard to land that is owned by someone else. The definition of who holds an easement, what can be done with an easement, and that the law regarding easement and how an easement should be governed should all be analyzed and...
7 Pages(1750 words)Essay
Reforms
...? How far the reforms introduced by the last labour government enhance or detract from the rule of law, democratic accountability or the sovereignty of parliament in the U.K. The last few years has seen United Kingdom undergoing a series of insightful constitutional changes. During the tenure of the Labour Party from 1997-2010, many constitutional reforms were introduced in UK. One criticism that has been bought against the Labour party’s reform agenda is that it was not well-synchronized and there were no definite set of guiding principles behind it but it is already clear, going by the impact of this change over the last decade that the British democracy has changed for...
6 Pages(1500 words)Essay
Immigration Policy Reforms
...? Immigration policy reforms and American Enlightenment Introduction Summarise Policy Reform Debate briefly In the American political world, the issue of immigration is an intensely complex matter. The current policies and reforms are not free from controversies and problems. The immigrants who are legal face many difficulties and delays. There is also the problem of large number of illegal immigrants, most of who enter through the southwestern borders of America. Immigration policies are matter of security of the American nation and also are related with the matter of competitiveness in the international...
6 Pages(1500 words)Essay
Teacher's Pension Scheme Reforms in the UK
...Teacher’s Pension Scheme reforms in the UK The Teachers Pension Scheme (TPS) of UK is a final salary occupational pensionscheme of the public service, and it is unfunded. It is regulated by the Superannuation Act 1972, which has rules and regulations that provide a legislative framework for the scheme, and most notably Teachers Pension Regulations 2010 (SI2010/990). Changes were introduced to the scheme in 2007, and these affected new entrants too. However, these changes have grown into a contentious issue with different sides holding different opinions about the reforms. This paper explores the ongoing negotiations between government ministers and union chiefs regarding...
8 Pages(2000 words)Essay
Health Reforms in the U.S. and UK
...ascertains that the reforms will further secure and ease the risk of loss for those with health insurance policies. On the contrary, the UK government advocates fair access to health services through the reforms. This emphasises the stringent measures over the health services delivered by private and public proprietors (Great Britain 2012, p. 78). The United Kingdom further advocates that proper health care systems will put patients into consideration, and to that extent, they will have the rights to express the types of services they seek. Most importantly, the UK reforms target to reshape and restructure the health system by...
9 Pages(2250 words)Essay
TAXATION POLICY AND TAX REFORMS IN VIETNAM
.../~rotthoku/Prague/ImpactofTaxesonEconomicbehavior.pdf [Accessed 16 October, 2013] Phung, N. (n.d.). Tax Reform in Vietnam: Main accomplishments and lessons. Tax Policy Department – MOF of Vietnam, Available from http://www.imf.org/external/np/seminars/eng/2011/revenue/pdf/nguyen.pdf [Accessed 16 October, 2013] Piggott, J., & Whalley, J. (2009). UK tax policy and applied general equilibrium analysis. Cambridge Books. Quang, N. D., & Dung, N. T. (1997). Tax reform in Vietnam. Vietnam's Socio-Economic Development, Available from http://www.arts.uwaterloo.ca/~vecon/download/ngodinhquang/ngodinhquang199706.pdf [Accessed 16 October, 2013] Yui, Y. (n.d.). FDI...
10 Pages(2500 words)Assignment
Economonics Competition Policy in the UK
...Introduction UK was amongst the first nations in Europe to implement formal competition policy, more than 50 years ago but this area of policy has not, considerably, been recognized as the most absorbing or most demanding part of both Economic study and financial decision-making. Yet there has been an upheaval, in both, which questionably has passed the area where they have common characteristics - competition policy and economic rules - to an extraordinary importance in United Kingdom. The old system for scheming restrictive agreements, the Restrictive Trade Practices Act, lasted some 44 years from 1956 to 2000. This was a system that...
8 Pages(2000 words)Essay
UK Aviation Policy
.... It was impossible for the government, particularly the Margaret Thatcher Administration, to intervene and over rule the local authority since public clamour for its rejection were expressed consistently and constantly. Had it been operational, it would have played an important role in the defence against foreign pre-emptive strike. The case of Greenham Common brought about the importance of public consultation and perception about specific aspects of UK aviation policy. KEYWORDS: Peace, Deployment, Nuclear Missiles, British soil INTRODUCTION Air travel is of primordial importance to the United Kingdom's economy and prosperity. In the last 30 years there has been a five-fold...
7 Pages(1750 words)Case Study
Competition and Competition Policy
...of the case: Blue Beer plc is an important producer of beer in Newcastle. Statistics shown that Blue Beer plc accounts for some 12% of all beer sold in the United Kingdom but that its Bluelite plc is especially successful and accounts for 40% of all non-alcoholic beer consumed in the UK. Blue Beer has been negotiating with County Beers Ltd with a view to merger. County Beers is the principal other producer of non-alcoholic beers and after merger the new company, British County Blue, will control 65% of the market in non-alcoholic beer Competition and competition policy: The overall policy of the European Union of competitive practices...
18 Pages(4500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Reforms in Competition Policy in the UK for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us