Competition policy canada

What does the competition policy do?
Competition policy is about applying rules to make sure businesses and companies compete fairly with each other.
This encourages enterprise and efficiency, creates a wider choice for consumers and helps reduce prices and improve quality..
What is the objective of Canadian competition policy?
Competition policy involves ongoing review and development of domestic policies and international trade agreements to encourage competition while promoting efficiency of the Canadian economy._{Apr 3, 2023}.
Competition benefits Canadians by keeping prices low and keeping the quality and choice of products and services high.
With fair and vigorous competition, businesses must produce and sell the products consumers want, and offer them at prices they are willing to pay.
Competition policy involves ongoing review and development of domestic policies and international trade agreements to encourage competition while promoting efficiency of the Canadian economy._{Apr 3, 2023}

The Competition Act maintains and encourages competition in Canada to promote the efficiency and adaptability of the Canadian economy, expand opportunities for Canadian participation in world markets while at the same time recognizing the role of foreign competition in Canada, and ensure that small and medium-sized

Does Canada need a Competition Bureau?

Although reform to this law is only one of several avenues that the Government has pursued to modernize our economic frameworks, it is committed to a renewed role for the Competition Bureau in protecting the public in our modern marketplace, in line with steps taken by many of Canada's key international partners.

News release

Effective and up-to-date competition law and enforcement are necessary to promote a competitive marketplace that favours prosperity and affordability for Canadians.
To ensure that Canada’s competition law remains fit for the modern economy and can continue to promote dynamic and fair markets for Canadians, the Government of Canada has undertaken a comprehensive review.

Quick facts

•The Consultation on the Future of Competition Policy in Canada garnered significant interest, receiving over 130 submissions from identified stakeholders, as well as more than 400 responses from members of the general public.
These submissions raised over 100 potential reform proposals.

Quotes

“A more effective and modern competition framework can lead to lower prices for consumers.
Over the past year, we have been consulting widely on the future of Canada’s competition law.
We have heard a lot of ideas on how to foster more competition, make our economy more dynamic and advance the interests of Canadians.
Today, we are releasing the What We Heard Report on the Future of Canada’s Competition Policy Consultation.
In addition to taking immediate legislative actions, we will continue to undertake a comprehensive review of our competition law and policy framework.
We will continue to work day in and day out to bring more relief to Canadians and make life more affordable.”

Stay connected

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What is Canada's Competition Law & Policy Framework?

The Government is now seeking feedback on Canada's competition law and policy framework.
The Government aims to ensure that the regime remains fit for purpose, able to stand up to the new challenges brought about by a changing and more digital economy.
The Act is one of a number of federal economic framework laws of general application.

What is the Competition Act?

The Competition Act is the toolkit we use every day to protect and promote competition for Canadians.
With sharper, more modern tools, we believe we can achieve more for the benefit of all Canadians.” The Future of Competition Policy in Canada – submission by the Competition Bureau (March 15 2023) .