Canada has a worsening monopoly problem. In 2019, three telecom companies controlled 91% of the mobile phones and Internet services market, six banks held 80% of the total assets in that industry, and five grocery stores accounted for 80% of grocery sales in Canada.2,3,4
Our government has been asleep at the wheel, letting the monopoly problem get steadily worse. Minister Champagne greenlit the Rogers-Shaw buyout, solidifying Rogers' position as the single largest Internet giant in Canada. Our competition laws are so weak that not only did Rogers get their deal approved; they sued our Competition Bureau for opposing it, awarding Rogers $13 million in the process.5,6
A monopolized economy is a sluggish, expensive economy. Companies with market power use it to mercilessly crush competition, leaving consumers with limited choices and inflated prices, whether it be for groceries or essential connectivity. Their stranglehold on the market stifles innovation by quashing new ideas and unfairly obstructing new and small enterprises from gaining a fair foothold. And worst of all, they use their power to have way too much influence over our politicians and regulations, making it even harder to stop their unfair practices.
Enough is enough – Canada needs an affordable and competitive economy NOW. It’s time our laws serve everyday Canadians, not power-hungry monopolists. Several bills have just been proposed that address parts of the problem, including Bill C-56, Bill C-399, and Bill C-352.7,8,9 But Canadians need results, not new Bill names. Email your MP and ask them what they will do to support an affordable and competitive Canada, and to ensure our laws prioritize the welfare of everyday people over corporate interests.