Advocates of extensive tax expenditure reduction argue — correctly — that all deficit reduction choices involve substantive costs and are politically difficult.
Our tentative conclusion is that technical issues concerned with risk assessment and risk reduction choices are not central to the process of innovation with regard to the practice of risk management, but that institutional culture, traditions and capabilities are of greater significance.
Consequently, customers would not face a reduction in choice, value or quality of service as a result of the merger".
Lyons added that the public impact of an expansionist BBC was a reduction of choice in the market that ultimately was detrimental for consumers.
"Not only will savers have a reduction in choice, but with rates in a constant freefall it is starting to become a pick of a bad bunch".
Jeremy Corbyn proposes to renationalise not just the rail network but public utilities (gas, electricity and water), partly in the hope that the reduction of choice will provide a fairer, less anxiety-inducing experience for their users.
The lack of alternatives to "sexy" in shop-bought Halloween costumes illustrates a reduction of choice and a reduction of possibilities for who women are allowed to be when they re-imagine themselves in costume form.
But the inquiry group of independent panel members today stated that "customers would not face a reduction in choice, value or lower-quality service as a result of the merger".
On Wednesday, the regulators offered more insight into their reasoning, saying the combination of the two shipping companies would have resulted in a major reduction of choice for European customers.
"The proposed acquisition would see the three main providers of online genealogy services reduced to two, and we are concerned this could lead to a reduction in choice or service for consumers," added Amelia Fletcher, senior director of mergers at the OFT.
