ABSTRACT
The Commission has never sought to define excessive pricing; this was not necessary in a system, similar to Pt 4 of the 2002 Act, which did not seek to punish and apportion blame. Nonetheless, the Commission has over the years frequently criticised profit levels. For instance, in its report on Valium and Librium,178 it recommended reduction in the prices of the two drugs to 25% and 40% of their existing level. In its report on Ready Cooked Breakfast Cereal Foods,179 the Commission concluded that the prices charged were excessive and, as a result, Kelloggs gave an undertaking not to increase prices without government approval. In White Salt,180 the Commission recommended that British Salt’s prices should be controlled directly and any increases were to be related to rises in costs.
