The UK government should present a clear and consistent message on the role the Competition and Markets Authority plays in driving growth and innovation, McGuireWoods London partner Matthew Hall wrote in a Nov. 14, 2024, article in The Times.
Hall cited the disconnect between remarks made by Prime Minister Sir Keir Starmer at the government’s recent international Investment Summit and a draft of the government’s strategy document, “Invest 2035: The UK’s Modern Industrial Strategy,” published the same day. Hall noted that Starmer targeted the UK Competition and Markets Authority, vowing to “rip out the bureaucracy that blocks investment.” By contrast, the “Invest 2035” report supports strong competition and consumer policy enforcement including by the CMA as a means of promoting growth.
“Despite the prime minister’s comments, the authority’s enforcement record and its existing focus on growth demonstrate that it is part of the solution and not the problem. Invest 2035 recognises this,” Hall wrote.
He concluded: “The government should present a clear and consistent message on the authority’s role and the benefits it provides. This will also set the tone for a business community that often misunderstands or is suspicious of the regulator’s work.”