The Competition and Markets Authority urgently needs much stronger political backing from government to move faster and more boldly in its mission to stop British business being held back by the market power of a handful of global technology giants, a new report from leading think tank the IPPR has warned.
Welcoming the 'Bottleneck Britain: How digital competition could power UK growth and sovereignty' report, News Media Association Chief Executive Theo Bamber said: "This report is a wake-up call: global tech companies have a stranglehold over the UK economy which is holding back British businesses and impacting growth. That needs to change, and fast.
"Digital competition enforcement is the tool to do this, and it should play a central role in the Prime Minister’s economic plan. We already have the right law and regulator to tackle this market concentration. What's been missing is the political will to use it.
“We urge the government to issue an updated Strategic Steer that backs the Competition and Markets Authority's independence and makes clear that robust, proactive enforcement is pro-growth, not a brake on it. Done right, the whole economy will benefit from more open markets where challenge and innovation work together to strengthen UK sovereignty in the age of AI.”
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