OFT lays down the law

17/04/2008

The Office for Fair Trading (OFT) has got tough with 112 construction firms and issued a Statement of Objections against them.

The move follows its investigation into bid rigging and cover pricing, which it says it has evidence of.

John Fingleton, OFT chief executive, hopes the investigation will "send out a strong message to the construction industry about the seriousness with which we view suspected anti-competitive behaviour".

Firms are accused of breaking the Competition Act 1998, by working together to inflate bid prices and leaving councils with a false impression of the competition.

"Cartel activity of the type alleged today harms the economy by distorting competition and keeping prices artificially high," he explained.

People are often attracted to legal careers as they offer jobs involved with a range of legal issues - and firms need experts that understand the industry's rules.

"Businesses have no excuses for not knowing and abiding by the law," Mr Fingleton warned.

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