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German economy minister aims to tighten antitrust laws -Breaking


© Reuters. FILEPHOTO: Robert Habeck (German Vice-Chancellor) arrives at Ramallah in the Israeli-occupied West Bank to meet with Mohammad Shtayyeh. REUTERS/Mohamad Torokman

FRANKFURT, (Reuters) – Robert Habeck, German Economy Minister will present concrete proposals for tightening the country’s antitrust laws as well as giving the Federal Cartel Office greater powers according to a Sunday position paper distributed by his ministry.

This is because he was concerned that fuel companies might not pass on a recently cut tax on gasoline that was passed to offset rising inflation.

According to the document from June 11, the ministry anticipates that there will be fewer obstacles for confiscating profits, and the cartel office will have additional power to intervene.

According to the paper, “Although tightening the competition law may not have a immediate impact on current circumstances, it can provide the state with the needed strength to intervene more effectively into the future.”