Source · Select Committees · Business and Trade Committee
Fourth Report - Post-pandemic economic growth: state aid and post-Brexit competition policy
Business and Trade Committee
HC 759
Published 25 October 2022
Recommendations
5
Deferred
Para 41
Whilst we support the increase in powers for the CMA, we also share the concern...
Recommendation
Whilst we support the increase in powers for the CMA, we also share the concern that there is insufficient oversight of the CMA and its performance. Additional powers must therefore come with additional accountability. This Committee will be undertaking more …
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Government Response Summary
The government redirects concerns about intra-UK trade to the Office for the Internal Market (OIM), which is statutorily obligated to monitor the UK's internal market and provide annual reports.
Department for Business and Trade
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17
Deferred
Para 128
We commend the CMA for its COVID-19 Taskforce which was effective in improving consumer rights...
Recommendation
We commend the CMA for its COVID-19 Taskforce which was effective in improving consumer rights in several industries. However, we believe that this taskforce was disbanded prematurely. We ask the CMA to establish an horizon scanning unit that pro-actively engages …
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Government Response Summary
The CMA will be responding separately, deferring the response to a later date.
Department for Business and Trade
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Conclusions (1)
18
Conclusion
Deferred
Para 139
We welcome the Government’s recent proposals to increase the CMA’s ability to fine businesses that abuse their market position, by reducing the minimum turnover threshold for immunity from financial penalties from £50 million to £20 million and imposing penalties of up to 10% of global annual turnover in instances where …
Government Response Summary
The CMA will be responding separately.