CMA consults on Annual Plan 2022 to 2023
2 Dec 2021 01:58 PM
The CMA Chair, Jonathan Scott, says “competition will be more important than ever before” in the year ahead, as the organisation consults on its Annual Plan.
The draft Annual Plan explains how the Competition and Markets Authority (CMA) will protect consumers, promote competition and help support the economy. It aims to encourage innovation, productivity, and sustainable growth to benefit all nations and regions of the UK.
The consultation sets out 5 themes on which the CMA proposes to focus in 2022 to 2023:
- Protecting consumers from unfair behaviour by businesses, during and beyond the COVID-19 pandemic
- Fostering competition to promote innovation, productivity and long-term growth right across the UK
- Promoting effective competition in digital markets
- Supporting the transition to low carbon growth, including through the development of healthy competitive markets in sustainable products and services
- Delivering the CMA’s new responsibilities and strengthening its position as a global competition and consumer protection authority.
Jonathan Scott, Chair of the CMA, said:
The emergence of the Omicron strain has added to the uncertainty being felt by consumers and businesses about the impact of coronavirus. In the run-up to Christmas we remain vigilant in protecting people across the UK from unfair behaviour and working to ensure their rights are protected.
As we look to the future, and as the UK emerges from the worst effects of the pandemic, healthy competition will be more important than ever before. Competitive markets are essential to economic recovery because they create the conditions for investment and long-term growth in the UK. They drive innovation, increase productivity and create the best conditions to create sustainable jobs. What’s more, when markets aren’t competitive, prices go up, quality drops and the cost of living rises, hitting less well-off households the hardest.
We’re keen to hear a wide range of voices on our plan for promoting competition and delivering in the interests of people and businesses around the UK in the coming year.
In 2022 to 2023, the CMA will develop and embed the significant new responsibilities that have been conferred on it, including the Digital Markets Unit (DMU) and the Office for the Internal Market (OIM). It will also help shape the UK’s future subsidy control regime by preparing for the creation of the Subsidy Advice Unit (SAU).
The CMA will expand its presence in the UK’s nations and regions, recruiting more staff in its offices in Cardiff, Belfast and Edinburgh and opening new ones in Darlington and Manchester.
The CMA plans to make the most of these new functions and the opportunities they bring to secure good outcomes for people throughout the UK, while playing a bigger role internationally to promote competition and protect consumers.
In 2022 to 2023, it will also do more to develop a deeper understanding of the issues people face, in particular those who are vulnerable. It will do more to explain its decision-making processes and commits to being an increasingly visible and vocal advocate for consumers.
The CMA’s consultation is intended to give partners, interested parties and members of the public the opportunity to provide views and comments on the CMA’s proposed Annual Plan for 2022 to 2023, and welcomes all feedback and suggestions.
For more information on the Annual Plan and how to share your views with the CMA, please visit the Annual Plan consultation page.
Notes to Editors
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