Islington Tribune - News: Clamour for probe into price- fixing

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Islington Tribune - by ROISIN GADELRAB
Published: 2 May 2008

Clamour for probe into price-fixing

LIB Dem housing chief Councillor Terry Stacy has rejected calls for an “intensive, forensic” investigation into possible price-fixing by the borough’s building contractors.
The Office of Fair Trading revealed last month that nine of Islington Council’s contractors are on a list of builders accused of forming cartels to rig bids for contracts.
The OFT report did not say price-rigging had happened in Islington, but Labour councillors Paul Convery and Richard Greening called on the council’s executive last week to look again at deals with contractors.
Cllr Convery said there was potential for price-rigging in Islington and asked Cllr Stacy to conduct a full investigation.
He told last week’s meeting: “The OFT’s report struck a chill in my heart. We should do more than simply give Terry Stacy the role of investigating further. We should be conducting a much more intensive, forensic account. We should be a great deal more vigilant and open a thorough inquiry.”
Cllr Stacy said he had written to the OFT to find out if Islington had been affected before taking any further action.
He added: “I would not like to give any indication that this council isn’t concerned. The council will take the appropriate action when we’re clear what the OFT have found.”
Cllr Greening said: “We should be investigating the whole set of contracts to assure ourselves this is not going on.”

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