UK Urges CMA to Champion Economic Growth

The United Kingdom's government has issued a directive to its antitrust regulator, the Competition and Markets Authority (CMA), emphasizing the need to bolster economic growth. The call is for more efficient, transparent, and responsive initiatives in areas such as merger control, digital markets, and consumer protection.

Since the Labour government took office last year, it has intensified pressure on the CMA and other regulatory bodies to dismantle obstacles hindering economic expansion. Business Secretary Jonathan Reynolds stressed the pivotal role of economic regulators in creating favorable conditions for growth and increased investment.

The CMA, having gained additional powers over major tech companies like Google, Meta, Apple, and Amazon, is now tasked with reinforcing a growth-centric economic regime, as emphasized by Prime Minister Keir Starmer and supported by the government's appointment of former Amazon executive Doug Gurr as interim chair.

(With inputs from agencies.)