"They knew we wanted to stop consumers being ripped off, but weren't convinced we also wanted businesses to grow and flourish.
"The Commission needs to make sure that consumers continue to have access to a wide variety of music in different physical and digital formats at competitive conditions".
Margaret Hodge, a former Labour minister and chair of the Commons public accounts committee, also defended the policy, arguing consumers are suffering too much from high prices.
"Our energy market reforms are about making the market more competitive, but also recognising that not just consumers but also businesses have been paying too much for their bills, and we're introducing a temporary price freeze to help consumers.
The result is a consumer financial-protection agency that's prevented from overseeing one of the most common, and most important, financial products that consumers buy.
In the case of ordinary consumers, "switching costs" have a major effect.
It's nearly impossible for consumers to evaluate how healthy a bank is.
Above all, you have to get consumers to accept significantly higher, and steadily rising, prices.
Kim said it was crazy that governments increased the use of coal, oil and gas by providing subsidies for consumers.
However, declining real wages have made consumers reluctant to borrow, undermining efforts to increase consumer spending.
The rise in GDP was supported by tailwinds from falling fuel prices, which put extra cash into consumers' pockets, and the export-boosting drop in the value of the euro.
