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The CBI commented on changes to class action rules.

Matthew Fell, CBI Competitive Markets Director, said:

"The genie is now out of the bottle for US-style class actions in the UK. The Government is right to be embarking on a deregulatory drive to boost the economy, but introducing an opt-out scheme for competition cases by default feels like a step in the wrong direction.

“The UK already has some of the world’s highest liability costs as a percentage of GDP, which hinders business, productivity and investment. The opt-out scheme runs the risk of worsening this problem, creating lucrative opportunities for those seeking to promote mass litigation and driving moves to a class action culture.

“We need to keep a close eye on the impact of these new changes in the coming years, with a view to revisiting the decision in the future.”