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CC RESPONDS TO COMPETITION REGIME PROPOSALS
The Competition Commission (CC) has yesterday welcomed the Government’s consultation on reforms to the UK competition regime whilst stressing that any changes must build on the strengths of the current system.
The government proposals, which were published yesterday on the BIS website, include merging the CC and Office of Fair Trading (OFT) into a single Competition and Markets Authority (CMA).
Commenting on the proposals, CC Chairman Peter Freeman said:
The UK competition regime and authorities are highly regarded both here and abroad and so, as the Government notes, this process should aim to improve on this excellence rather than fixing what is not broken. This is a great opportunity to build a first class competition authority, but we must be careful not to damage what we already have.