OFT publishes annual plan: five priority areas identified

58/05 30 March 2005

Five priority areas will be the focus of the OFT's work over the next financial year.

Download the OFT Annual Plan 2005-06 (pdf 225 kb)

The areas, which are highlighted in the OFT's annual plan for 2005/06, cover credit markets; construction and housing markets, including estate agency services; healthcare markets; interaction between government and markets, e.g. through public procurement, regulation and public sector bodies competing with the private sector; and mass-marketed scams.

In identifying the priority areas the OFT has taken into account size and importance of markets, size and evidence of consumer detriment, potential impact on markets and where the OFT can provide the most benefit.

Sir John Vickers, OFT Chairman, said:

'Our core activities over the next year will continue to be enforcing the law to encourage vigorous and open competition as well as to stamp out unfair trading practices, and we remain committed to educating businesses and consumers about their rights and responsibilities.'

NOTES

1. Under the Enterprise Act 2002, the OFT is required to produce an annual plan setting out its main priorities and objectives for the financial year ahead. The plan published today follows a consultation. See press release 194/04 for further details.

2. The plan looks forward over three years from April 2005. In this period the OFT expects to make demonstrable progress on the following objectives:

consumers judge that markets deliver more and better choices in terms of goods and services
consumers and businesses judge that market abuses have been addressed
businesses judge that barriers to fair and open competition are being addressed
consumers and businesses have a better understanding of their rights and obligations under competition and consumer protection law
stakeholders judge that the OFT operates in accordance with its values.

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