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30th April 2008
Supermarkets to be reined in by Competition Commission
The Competition Commission is poised to unveil a range of new measures curbing the power of the country's largest retailers.
The proposals, which will include a 'competition test', follow a two-year investigation by the commission into the activities of the UK's leading supermarkets.
Peter Freeman, the chairman of the Competition Commission, revealed that instances where a lack of competition was harming smaller retailers and consumers needed to be addressed.
He said: "In many important respects, consumers are receiving the benefits of competition, such as value, choice, innovation and convenience, but we need to take appropriate action to address those areas where they could be served better and where their interests could be damaged in future."
Other measures set to be put in place include the stipulation that planning applications for supermarkets larger than 1,000 square metres have to be approved by the Office of Fair Trading.
The investigation is likely to provide a welcome boost for small retailers who may finally be able to finally gain a foothold in a difficult marketplace.
(c) 2008 Adfero Ltd
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