Competition policy – annual report 2023

Wording as published by the EP, in English.

1. Amendment 2Rejected

   Paragraph 6

   Tabled by Martin Schirdewan, Manon Aubry, Marc Botenga +1 · The Left

   … and consumers’ welfare; highlights the need to improve the data on profits Removed: in order to efficiently Added: and to effectively address potential consequences, as research by the European Central Bank and the International Monetary Fund Removed: suggests Added: shows that corporate profits have been important temporary drivers of inflation; calls on … reiterates that the Commission must make use of all the available tools Removed: under competition law to tackle the cost-of-living crisis; Added: calls on the Member States and the Commission to introduce permanent windfall profit taxes to combat profit-driven inflation in all sectors and to redistribute windfall profits to low-income households; 20 OECD, ‘Competition and Inflation: OECD Competition Policy Roundtable Background Note’, 2022.

2. Amendment 3Rejected

   Paragraph 7 a (new)

   Tabled by Martin Schirdewan, Manon Aubry, Dimitrios Papadimoulis +2 · The Left

   Added: 7a. Is deeply concerned about the current food price crisis and the high levels of market concentration and financial ownership in food supply chains, which may hamper competition and facilitate concerted unfair price increases; highlights the fact that the three largest asset management companies – BlackRock, the Vanguard Group and Fidelity Investments – are among the top 10 shareholders in almost all listed food companies; calls for a thorough sectoral investigation into market power and financial ownership in EU food supply chains and the implementation of structural remedies; calls for a revision of EU competition law to align its enforcement with the objective that corporate behaviour must respect the fundamental right of consumers to affordable food;

3. Amendment 4Rejected

   Paragraph 14 a (new)

   Tabled by Martin Schirdewan, Manon Aubry, Leila Chaibi +1 · The Left

   Added: 14a. Is deeply concerned about the Commission’s ongoing in-depth investigations into a potential breach of EU State aid rules against public rail freight operators Fret SNCF and DB Cargo; deplores the fact that the investigations will lead to the liquidation of Fret SNCF and threaten a substantial number of jobs at DB Cargo; calls on the Commission to consult trade unions and ensure rail freight workers’ rights; stresses that the liquidation of Fret SNCF could lead to an additional 520 000 trucks on the road per year, putting at risk the objective established by the sustainable and smart mobility strategy of doubling rail freight traffic;

4. Amendment 5Rejected

   Paragraph 25

   Tabled by Martin Schirdewan, Manon Aubry, Marc Botenga +1 · The Left

   … chain, to the detriment of consumers, farmers, the environment and biodiversity alike; Added: deplores the fact that just four companies – ADM, Bunge, Cargill and Louis Dreyfus – account for between 75 % and 90 % of the global grain trade; is deeply concerned about the proposed merger of Bunge and Viterra, which would exacerbate the trend towards excessive market concentration; calls on the Commission to use its powers under competition law to prevent the merger of Bunge and Viterra;