Thank you, Mr. Chair, and I appreciate the witnesses' coming forward on an issue that's been quite critical for this committee, and certainly for the Canadian population generally.
I'd like to reference the Competition Bureau report of October 2023, which concluded that “competitive intensity has decreased from 2000 to 2022”. In particular, it “found that the most concentrated industries” have become more concentrated and that “the number of industries that are highly concentrated has increased.” Moreover, “Top firms are less” likely to be “challenged” in their position. The numbers of new entrants have decreased and firms' profits and markups have all risen overall.
According to the bureau, these findings underline the need to "modernize the Canada's competition laws to respond to the realities of today's economy", which is really why we've undertaken some of the other amendments and are having a look at the bill today.
To Mr. Péladeau, what factors have led to a decrease in the level of competitive intensity in Canada since 2000?