On 16 February 2021, John Penrose MP published an independent report on improving competition and consumer protection in the UK (the Report). It finds that the UK’s competition and consumer regime “has a good reputation, but not a great one”; progress on “cutting the costs of red tape” has stalled; excessive regulation has left “important industries more ponderous and less focused on their customers than they should be”; and competition has weakened over the past 20 years, leaving consumers feeling “ripped off.” To address these shortcomings, the Report makes a series of recommendations aimed at galvanising UK competition and consumer protection, promoting creative and light-touch regulation, and ensuring that regulation and competition are “on the side of customers rather than of politicians,
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