The Competition and Markets Authority (CMA) has published its Annual Plan for 2021/2022, setting out its priorities for the year ahead.
With the Brexit transition period coming to an end, the CMA has taken on new responsibilities in the area of global competition and consumer investigations, and is working to establish the new Digital Markets Unit and the Office for the Internal Market. As it assumes these additional responsibilities, the CMA says it will continue to protect consumers interests and ensure that businesses operate within the law, both during and beyond the Covid-19 pandemic.
The CMA has identified the following as its main themes for the coming financial year:
- protecting consumers and driving recovery during and after the pandemic, particularly in terms of protecting the vulnerable from breaches of competition and consumer protection laws and poorly functioning markets, and supporting the UK economy by fostering competition and so encouraging innovation, productivity and growth
- taking its place as a global competition and consumer protection authority as it assumes new responsibilities after the EU Exit Transition Period
- fostering effective competition in digital markets
- supporting the transition to a low-carbon economy.
In preparing its annual plan, the CMA sought input from consumers, representative charities and businesses. In response, it received written submissions from 164 people and organisations and talked directly to stakeholders at 13 virtual events across all four nations of the UK.
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