Canada Launches Review Of Competition Act

Canada has announced the launch of the review of the Competition Act, which “is a critical step in achieving our government’s commitment to improve competition and affordability for Canadians,” Minister Champagne said.

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement:

“Canada, like other countries, is facing record high inflation, and we must do everything we can to make life more affordable for Canadians.

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“Earlier this year, I announced my intention to carefully evaluate ways to improve and reinforce the Competition Act. The first step in modernizing the Competition Act was to make the targeted improvements announced in Budget 2022. These changes addressed shortcomings in the Act and have brought Canada more in line with international best practices, including by increasing penalties for companies that contravene the Act.

“Today, with the launch of the review of the Act, I am seeking Canadians’ views on broader changes to it and its enforcement framework, including changes that will help the Competition Bureau better protect consumers and the integrity of the marketplace.