UK Open for Business! A New Approach for the CMA

The UK government's pro-growth and pro-investment agenda, which has seen the government criticise the Competition and Markets Authority (CMA) and replace its chair, is continuing to take shape with its latest consultation. The new consultation outlines the pivotal role of the CMA in promoting the UK as a hub for certain, proportionate, and transparent regulation. 

This policy development is welcome, particularly in helping to facilitate inward investment and M&A activity. Highlights include:

• Supporting Growth and Investment: The CMA will leverage tools like competition and consumer law enforcement, merger control, and the new Digital Markets Competition regime to foster innovation and attract international investment.
• Pro-Growth Interventions: Prioritising actions that enhance the UK's competitiveness, focusing on key sectors, and collaborating with international and domestic regulators.
• Swift and Proportionate Actions: Ensuring timely and predictable regulatory actions that support businesses and consumers.
• Engagement and Transparency: Proactive engagement with businesses, clear communication, and regular feedback to ensure a 'best in class' experience.

The UK Office of National Statistics recently reported that the value of inward investment into the UK has fallen by 88% in cash terms from 2016 to 2022, particularly exacerbated by Brexit and the Global Pandemic. Legislative action can be a pivotal counterbalance - the impact of measures such as the Bipartisan Infrastructure Law, CHIPS and Science Act and Inflation Reduction Act in the US are good examples: FDI into the United States has increased by 48% from 2016 to 2022.  

Please get in touch with your usual BCLP contact or our Antitrust & Competition team to discuss.