A group of UK lawmakers have urged the country’s antitrust watchdog to open more investigations to help boost the economy.
(Bloomberg) — A group of UK lawmakers have urged the country’s antitrust watchdog to open more investigations to help boost the economy.
The Business, Energy and Industrial Strategy Committee, a group of politicians that scrutinize the government department, set out a sweeping range of suggestions for the Competition and Markets Authority as part of a look into the UK’s post-Brexit antitrust policy, in a report published Friday.
Britain’s CMA became more a powerful regulator post-Brexit and has tried to position itself as one of the lead global watchdogs taking on the dominance of a handful of powerful tech firms. This week it set out its concerns over Microsoft’s $69 billion acquisition of Activision.
Its market study powers help to examine if sectors are working for consumers and it is currently looking at the road fuel market.
The panel said that the CMA “could be doing more to help stimulate economic growth in the UK by conducting more market studies” and thinking more about how competition can drive the country’s productivity levels.
“The CMA has said it will prioritize action over the next three years that will, among other things, help enable open access to markets for innovating businesses and help emergent sectors,” the CMA said in a response to the recommendation.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.