Source · Select Committees · Business and Trade Committee
Recommendation 29
29
Accepted
Paragraph: 205
Digital markets are global in nature.
Conclusion
Digital markets are global in nature. Therefore, many countries are required to work together to assess the risks and form an approach to tackle anti-competitive behaviour. We congratulate the CMA for its work on the Digital Markets Unit so far and its international leadership on this issue.
Government Response Summary
The Government believes the CMA has the funding it needs to carry out its functions and intends in the Digital Markets, Competition and Consumer Bill to provide powers for a levy on Strategic Market Status designated firms that partially recoups the cost of DMU activity.
Paragraph Reference:
205
Government Response
Accepted
HM Government
Accepted
The Government believes the CMA has the funding it needs to carry out its functions. As we set out in our response to the consultation on digital competition published on 6 May 2022, we intend in the Digital Markets, Competition and Consumer Bill to provide powers for a levy on Strategic Market Status designated firms that partially recoups the cost of DMU activity.