Annual Plan

We publish our priorities and objectives each year in an Annual Plan following public consultation. The Annual Plan sets out how we will achieve our goal, which is to make markets work well for consumers.

Section 3(1) of the Enterprise Act 2002 sets out that the OFT shall before each financial year publish a document (the annual plan) containing a statement of its main objectives and priorities.

Annual Plan 2008-09

Download Annual Plan 2008-09 (pdf 282 kb) 

The coming year will bring a series of new challenges to the OFT and in this Annual Plan we set out how we plan to rise to meet these.

Last year we set out our plans for 2007-08 under four broad themes of delivering high-impact outcomes, being a centre of excellence and intelligence, working in partnership, and building our internal capability. These themes underpin the challenges set out in our performance framework agreed with Her Majesty's Treasury under the Comprehensive Spending Review 2007. 2008-09 is the first year of the three year CSR07 period and as such the four themes set out above will continue to shape our work over the coming year.

We have reflected on the many useful points made during the consultation process and taken account of comments where appropriate.

We hope that the Plan will give you a clear idea of our overall direction and explain how our 2008-09 objectives will enable us to build on our achievements and rise to meet challenges in the coming year. Next year's Annual Report will show how effective we have been in delivering it.

Objectives

Our proposed objectives in 2008-09 are as follows:

Objective 1: To deliver high-impact outcomes
Make markets work well for consumers by delivering high impact work efficiently, focused on priorities, and spanning the OFT’s enforcement and non-enforcement functions.

Our target is to deliver direct financial benefits of at least five times that of our cost to the taxpayer and to demonstrate the additional wider benefits of the OFT’s work such as increasing consumer and business confidence in markets and deterring future anti-competitive behaviour.

Objective 2: To be a centre of intelligence and excellence
Monitor markets proactively, systematically and transparently.

Evaluate the impact of our work, and use this evaluation to inform strategy and future work. Provide effective education and advice for consumers, including through Consumer Direct. Promote innovative approaches in our work.

Our target is to be acknowledged as a thought leader, developing innovative approaches to our work, using intelligence effectively, and having a wider impact on markets through our advocacy of competition.

Objective 3: To work in partnership
Work with our partners to better achieve our other objectives.

This will include: working with Local Authority Trading Standards Services (TSS) to pursue a risk-based, intelligence-led approach to delivery at local level of coordinated and consistent services to businesses and consumers; co-operating with other UK regulators, the European Commission, the Competition Commission and other National Competition Authorities to ensure effective enforcement of the competition regime in the UK; and working with government to influence competition, regulation and consumer policy, and reduce the potential for government actions to adversely affect markets.

Our target is to demonstrate increased effectiveness of OFT work by engaging the strengths of other bodies and organisations, and by increasing mutual awareness and understanding.

Objective 4: To develop the OFT as an organisation
The OFT’s key asset is the diversity of the skills, expertise and experience of its staff. Our ability to change markets and deliver excellent outcomes for the UK economy relies on investing in the skills and talent of our staff.

Our target is to have a comprehensive career and knowledge development programme for our people.

Responses to consultation

Comments received during the public consultation, along with our response, can be seen on the Responses to the Annual Plan page. 

Previous plans are available from the publications section of the website.

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