CMA chair uses IPPR paper to discuss role of competition policy in ensuring sustainable post-Covid recovery
Lord Tyrie argues for measures to secure a more competitive economy and better consumer protection in wake of crisis
IPPR has published a discussion paper by Andrew Tyrie, chair of the UK’s Competition and Markets Authority, in which he makes the case for competition policy to play a key role as the economy emerges from the coronavirus lockdown.
In the paper, available from the progressive policy think tank’s website (see Notes below), Lord Tyrie reviews the steps already taken by the CMA to protect consumers from threats to competitive outcomes, including concerns over price gouging and firms not honouring the right to a refund on cancellation of their services.
He goes on to describe how competition policy could play an important part in ensuring a sustainable long-term recovery.
His paper is among a number published by IPPR, the progressive policy think tank, examining the impact of the Covid-19 crisis, the emergency measures taken to safeguard the economy, and how to ensure the economy recovers in a way that is fair, clean and sustainable.
Carys Roberts, Executive Director of IPPR, said:
“In this paper, Lord Tyrie makes the case that coronavirus is likely to make the UK economy less competitive, with markets becoming more concentrated. We agree with that assessment, and we fear this could take the UK to a tipping point where rates of investment and innovation begin to fall as a result.
"Many of the issues Lord Tyrie raises were core to the work of the IPPR Commission on Economic Justice, which reported in 2018. The Commission identified rising concentration in a number of sectors across developed economies, and in particular in the digital and data economy.
“The Commission called for reform of the UK’s competition regime, with a stronger focus on open markets that better promote investment, innovation and entrepreneurship. This should be a priority for the recovery from Covid-19."
Carys Roberts is available for interview
- David Wastell, Head of News and Communications: email@example.com
- Robin Harvey, Digital and Media Officer: firstname.lastname@example.org
- CMA Press Office: 020 3738 6460 email@example.com
NOTES TO EDITORS
The IPPR discussion paper, How Should Competition Policy React to Coronavirus, by Lord Tyrie, is available for download at: http://www.ippr.org/research/publications/how-should-competition-policy-react-to-coronavirus
Lord (Andrew) Tyrie was appointed chair of the Competition and Markets Authority in 2018 and announced last month that he will step down in September.
Other recent IPPR papers on the post-Covid economy include:
- Guaranteeing the Right Start: Preventing youth unemployment after Covid-19 – available on IPPR website here;
- Transforming the Economy after Covid-19: A clean, fair and resilient recovery – available here;
- Who wins and who pays? Rentier power and the Covid crisis - available here;
- Beyond bailouts (discussion paper) - available here
- Inside the Black Box: The public finances after coronavirus (discussion paper) – available here
The final report of IPPR’s Commission on Economic Justice, Prosperity and Justice: A plan for the new economy, is available here. Among its wide-ranging proposals, the Commission called for the remit of the Competition and Markets Authority to be broadened to include a focus on market power that damages the public interest, alongside existing commitments to promote consumer welfare and economic efficiency.
IPPR, the Institute for Public Policy Research, is the UK’s pre-eminent progressive think tank. With more than 40 staff in offices in London, Manchester, Newcastle and Edinburgh, IPPR is Britain’s only national think tank with a truly national presence. www.ippr.org
Latest News from
King's Fund - Boost for local health partnerships as six areas secure place on £3 million grant-funding programme14/01/2021 12:35:00
Six areas in England have been chosen to join the first phase of a major grant-funding and development programme designed to improve the health and wellbeing of communities and tackle health inequalities.
IEA - JRF proposals constitute a “costly and unrealistic wish list”14/01/2021 11:35:00
Professor Len Shackleton, Editorial and Research Fellow at free market think tank the Institute of Economic Affairs, responded to the Joseph Rowntree Foundation’s report on poverty
The King’s Fund responds to Office for National Statistics deaths data for 202014/01/2021 10:35:00
Richard Murray, Chief Executive of The King’s Fund responded to the latest Office for National Statistics data on deaths in England and Wales in 2020
JRF - After a decade of deprivation, we need policies that prioritise recovery for families in poverty14/01/2021 09:35:00
In yesterday’s state of the nation report, the Joseph Rowntree Foundation warns that ministers must make tackling poverty an economic priority in 2021 or they risk being defined by a record of worsening hardship.
IEA responds to Chancellor’s economic update12/01/2021 11:35:00
Mark Littlewood, Director General at the free market think tank the Institute of Economic Affairs, responded to the Chancellor Rishi Sunak’s economic statement
IEA - Keir Starmer right to warn against hikes to council tax – but what taxes would he increase instead?12/01/2021 10:35:00
Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, responded to Sir Keir Starmer’s speech on the economy
Brexit deal leaves workers’ rights and environmental protections at serious risk of erosion, warns IPPR12/01/2021 09:35:00
Despite improving on a ‘no deal’ outcome, agreement leaves wide scope for key rights and duties to be rolled back
The King’s Fund responds to the latest emergency care situational reports and estates data08/01/2021 13:20:00
Siva Anandaciva, Chief Analyst at The King’s Fund, responded to the latest NHS Urgent and Emergency Care Daily Situation Report data and Estates Returns Information Collection
Adam Smith Inst - Vaccination acceleration worth a shot05/01/2021 11:35:00
The COVID-19 pandemic rages on with an average of over 40,000 daily new confirmed cases in the United Kingdom (UK), an all-time high. Over 400 people a day die with the virus, and lockdown measures necessitated by the virus continue to cause further harms. The fastest and safest way out of this crisis, the Adam Smith Institute argues, is mass vaccination.