The three biggest cellphone companies in Canada are being forced to reduce their prices by 25 percent. Bell, Rogers and Telus have two years to make the change, which will be enforced by the Trudeau government according to Global News.
On Thursday, Innovation Minister Navdeep Bains announced that the government will begin tracking wireless pricing on a quarterly basis instead of yearly. The goal is to better track the prices so that the required price drops are met by plans that offer two-to-six GB of data.
He added that the government will “take action with other regulatory tools to further increase competition and help reduce prices” if the Big Three do not reduce their prices.
On Thursday, Bains said, “If they fail to do so, we will look at additional regulatory measures, like how we deploy future spectrum or mobile virtual network operators as a means to drive more competition, which will help lower prices.”