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Inefficient markets

David Cameron has joined in the Tesco-bashing, but the OFT should leave it alone. And the IMF is proving better at spin than at giving poorer countries votes

By P L   June 2006

Bashing Tesco It’s fashionable to have a go at Tesco, so it’s no surprise that David Cameron has joined in. Keen to show that he’s not in the pocket of big business, the Tory leader recently warned Britain’s biggest supermarket chain to “behave responsibly.” Worse, on the same day, the office of fair trading (OFT) announced that it would refer the supermarket sector to the competition commission—less than a year after ruling that Britain’s £125bn-a-year groceries market was sufficiently competitive.

The OFT claims its about-turn has come about since more evidence came to light. More likely its new boss John…

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