Letter to the editor. Faced with price regulations on food, electricity and banking services
Today, there are two large oligopoly (ie a few players who control most of the market) in our country. It is the four major banks that together have 70 percent of the market and the four food chains by 90 percent, of which ICA has over 50 percent.
Last year, the four major banks’ profits were approximately SEK 250 billion. The food chains’ profit with ICA in first place is more difficult to confirm as the accounting is almost impervious. However, it appears that the profits and dividends to the shareholders are significant, according to Ekot SEK 850 million in 2024 only for the 25 largest grocery stores in the country.
This means that a free and thus healthy competition in two sectors that affect all people’s finances is in principle put out of play. This creates increased costs for us as consumers and entails major redistributions of capital in our society.
The whole social economy And not least inflation is affected. This is a condition that has existed for many decades without intervening any government in the real sense.
Regularly, however, governments have called for concerned oligopoly for discussions in order to limit the power of the oligopoly across the market. These discussions have never produced any results. What was to wait?
To these two oligopolis, the electricity market can also be added, where our impact as consumers is also almost zero and where the state also contributes to pricing with high fees and taxes.
Citizens’ opportunities To affect prices through free competition is completely put out of play. Attempts as buyer boycotts and the like therefore become as ineffective as the government’s recurring discussions with the oligopoly representatives.
What is required instead, legislation and state price regulations in a country where the oligopoly is completely and without competition has gradually taken over. We consumers require the action of the government with measures that really lead to change and improvement. If this does not happen, it will probably appear in next year’s parliamentary elections.
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