The authors of this paper argue that where competition policy is insufficient, new types of public ownership structures should be considered, in order to align business decisions with the public interest and macroeconomic stability.

This analysis shows that the profits of the largest non-financial companies were up 34 per cent at the end of 2021, compared to pre-pandemic levels – rising significantly faster than inflation and wage growth. This report argues that some firms could have considerable market power with very few competitors, and this could be making the...