About the OFT
Our work
The OFT is the UK's competition and consumer authority, and although there have been considerable successes in recent years, we are intent on raising our game. Our Annual Plan 2011/12 details our mission and objectives and how we hope to achieve them.
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The OFT's mission
The OFT's mission is to make markets work well for consumers. Markets work well when businesses are in open, fair and vigorous competition with each other. Our job is to make sure that consumers have as much choice as possible across all the different sectors of the marketplace. When consumers have choice they have genuine and enduring power.
We pursue this goal by:
- encouraging businesses to comply with competition and consumer law and to improve their trading practices through self-regulation;
- acting decisively to stop hardcore or flagrant offenders
- studying markets and recommending action where required
- empowering consumers with the knowledge and skills to make informed choices and get the best value from markets, and helping them resolve problems with suppliers through Consumer Direct
- playing a leading role in promoting and protecting consumer interests throughout the UK, while ensuring that businesses are fair and competitive. Our tools to carry out this work are the powers granted to the OFT under consumer and competition legislation.
The changing landscape
The challenging circumstances facing consumers in the current economic climate makes the OFT's role as relevant as ever. Alongside this the Government is considering a number of changes to the competition and consumer regulatory environment and the possible introduction of a single Competition and Markets Authority, bringing together all competition related work. This is a proposal welcomed by the OFT, which provides exciting opportunities for professionals working in the competition field.
See our response to the Government's consultation.
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