Competition authorities are unfairly targeted by various free market fundamentalists - Cosatu

THE Competition authorities have been mistakenly and unfairly targeted recently by various free market fundamentalists

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These self-appointed critics, masquerading as economic experts, miss the necessity of having properly empowered authorities to regulate and where needed, tackle monopolies and anti-competitive behaviour.

To simply leave such important matters for the economy, its growth and inclusivity, to the vagaries of the market, is naïve at best and in reality, a dangerous failure to address society's faultlines. It flies in the face of international experience, where even the most 'pro-market' economies, such as the US, have powerful competition authorities.

These critics are mysteriously silent when it comes to the Commission's many important interventions benefiting millions of workers and consumers, thousands of startups and SMMEs, contributing to economic growth and reducing our painful levels of poverty and inequality.

Perhaps these don't concern the opponents of tackling monopolies and other anti-competitive behaviour. Perhaps they are blind to the abuses and cartel behaviour perpetuated by dominant firms.

The competition authorities have secured impressive victories protecting consumers from price gouging and collusion by shameless service providers.

In 2006 the Commission acted to stop price collusion for bread, a staple food for millions of working and middle-class families.

In 2019 the Data Service Market Inquiry led to data prices being slashed by 50%, 1100 government and public sites being made accessible for free, saving consumers R4 billion in the first year alone.

The Commission intervened during Covid-19 to stop collusion between companies colluding to inflate prices for hand sanitisers, testing kits and other essential PPEs at the criminal risk to millions of lives and livelihoods.

It has intervened to tackle collusion and cartel-like behaviour in the construction industry and among cement producers. A growing economy cannot afford to have construction and cement subjected to extortion.