The watchdog will not appeal slashed fines
The Office of Fair Trading will not appeal a total of 25 judgments by the Competition Appeal Tribunal against the watchdog, which slashed fines that were levied on construction firms by 84%.
The decision means the £66m reduction in fines imposed on firms for use of anti-competitive cover pricing will stand.
The OFT said it would not appeal the huge reductions because it believes construction has now cleaned up its act. However, it did admit it would re-examine its tactics after it was criticised by the tribunal for its heavy-handed approach.
Every contractor that appealed its fines had them reduced by up to 94% or written off entirely.
Last week the OFT ruled out an appeal against the cut in fines for recruitment agencies.
No comments yet