The UK competition watchdog, CMA, is set to expedite its decision-making processes and reduce regulatory burdens to help foster economic growth. Responding to government pressure for increased competitiveness and investment attractiveness, the Department for Business and Trade outlined a new strategy for the CMA. This comes in light of criticism towards its previous interventions in business deals, particularly following Microsoft's notable complaint after the CMA initially blocked its acquisition of Activision Blizzard. The CMA aims to implement a more dynamic approach to support the government's business growth ambitions.
The CMA announced plans to deliver a step change in how it operates in the coming months, focusing on creating a more competitive business environment.
The Department for Business and Trade said its approach should enhance the attractiveness of the UK as a destination for international investment.
Starmer emphasized that the government would hold regulators accountable to take growth seriously, reflecting the urgent need for economic acceleration.
Microsoft's president criticized the CMA, highlighting concerns that the UK's regulatory environment was detrimental to business, despite the eventual approval of their deal.
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