Monopoly runs deep in Canada – we still hear arguments against competition reform
This dates back to even before we were a country, when the Hudson’s Bay charter was granted in 1670. It gave one company a trading monopoly over wide swaths of what is now Canada.
The government of Canada has rightfully taken notice, and is taking action. It introduced initial improvements to Canada’s Competition Act last year, and then quickly launched a comprehensive consultation on Canada’s competition framework. When competition law first emerged here at the end of the 19th century, it was for reasons that remain just as compelling today: to give consumers lower prices and make our economy stronger. The law that we work with hasn’t been fully updated in 37 years.
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