Bill C-352 “Lowering Prices for Canadians Act”

Bill C-352 “Lowering Prices for Canadians Act” is a bill in the House of Commons of Canada introduced by NDP Leader Jagmeet Singh which would update Canada’s Competition Act to increase penalties on companies for certain anti-competitive acts.

Changes to the Competition Act summary

• Higher penalties for price-fixing and wage-fixing of up to 3x the value of the benefit derived from the conspiracy or if that amount cannot be reasonably determined, 10% of the persons annual worldwide gross revenues. This could have led to higher penalties in the case of the bread price-fixing scandal.
• Excessive and unfair selling prices to the list of anti-competitive acts.
• Making “efficiency gains” one of a number of factors considered by the Competition Tribunal when determining if a merger or agreement can be approved, instead of a single legal reason preventing a merger/agreement from being blocked by the Tribunal. This could stop mergers that drive-up prices and hurt consumers, such as the Rogers-Shaw merger.
• Preventing mergers resulting in large market shares if the combined market share of 60% or more, and preventing mergers if the combined market share would be 30% to 60%, unless it is “likely to result in substantial procompetitive outcomes, including reductions in prices, increases in supply, reductions of anti-competitive acts, increases in quality of goods or services, increases in wages and increases in consumer choice and consumer protection.”
• Extended the review period for mergers from 1 to 3 years.
• Increases Competition Bureau power to conduct inquiries into companies when a market study and reports on market conditions would provide insight into factors that are relevant to competition, not just when the Competition Bureau believes a company has broken the law.
• Considering how a merger would affect the real value of exports, and substitution of domestic products for imported products when considering gains in efficiency.
• Other changes

Status

A motion to read the Bill a second time and refer it to the Standing Committee on Industry and Technology was passed on Wednesday, February 7, 2024.

• C-352 status
• Second reading
  • Watch second reading debate February 7, 2024
  • Vote results