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July 26, 2021
The Government says that a thriving digital economy is at the heart of its vision for long-term economic growth. The Government is consulting on proposals for a new pro-competition regime for digital markets. Through these reforms the Government aims to “drive greater dynamism in our tech sector, empower consumers and drive growth across the economy”. This digital competition consultation is the latest step towards the establishment of a new regulatory regime for digital markets.
The Government’s proposals for the regime include:
- the criteria and mechanisms that will identify which firms fall within scope of the regime;
- the objectives for the Digital Markets Unit and how it will work with other regulators;
- the Government’s approach to a new code of conduct to promote open choices, fair trading and trust and transparency;
- the Government’s approach to “pro-competition interventions” that will address the root causes of market power;
- the powers that the Digital Markets Unit will need to ensure the regime is effective; and
- the changes being considered for a distinct merger regime for firms within scope of the regime.
The Government has also published two research reports related to the consultation (see item below).