Connect with us

Hi, what are you looking for?


John Penrose publishes independent report to strengthen UK’s competition regime 

John Penrose

John Penrose MP has today published proposals to update the UK’s competition and consumer regime.

In September 2020, Mr Penrose was invited by the Government to conduct an independent review of UK competition policy, to see how it can be reformed as the country begins life as an independent trading nation and builds back better from Covid-19.

In his final report – Power to the People – Mr Penrose recommends measures to reform the UK’s competition institutions for the digital age.

Mr Penrose brings a unique perspective from his experience in business, an understanding of everyday consumer issues from 15 years as a constituency MP, and long-running interest in the subject.

Business Secretary Kwasi Kwarteng said: “The UK’s competition laws and institutions are highly regarded across the globe, however as we build back better from the pandemic and start life as an independent trading nation, we have a golden opportunity to strengthen that reputation.

“I want to thank John Penrose for his hard work on this independent report, which considers how the UK’s competition regime can promote productivity, reward and encourage innovation and, most importantly, get consumers a better deal.

“We will consider John’s recommendations and respond in due course.”

Chancellor Rishi Sunak said: “This Government continues to champion British businesses as demonstrated by our unprecedented £280 billion package of support throughout the pandemic.

“We must strengthen competition in our economy as we build back stronger from Covid-19 and protecting consumers will remain at the heart of this important work.”

In his report, Mr Penrose outlines options to promote competition in the UK and to improve consumer confidence. This includes proposals to protect consumers from new kinds of rip-offs, and to ensure that they can expect fair treatment, particularly in online transactions.

Mr Penrose recommends further work to strengthen and speed up enforcement of consumer and competition law.

Mr Penrose’s report complements recent Government action on competition.

In November 2020, the Government announced the formation of a new Digital Markets Unit to oversee a pro-competition regime for platforms including those funded by digital advertising, such as Google and Facebook.

Read more:
John Penrose publishes independent report to strengthen UK’s competition regime 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Post Office collection and cash delivery workers are to stage a one-day strike later this month in a dispute over pay. Members of the...


UK consumers cut back on credit card borrowing in May amid fears over rising interest rates and a slowing economy driven by a cost...


The bank said that it was introducing a £1,200-a-year pay increase from August 1, which would start to show in next month’s pay packets....


Postmasters caught up in the Horizon IT scandal say that they are still being “left in the dark” about a compensation package after the...


Expenditures for environmental protection declined by 4.6% year on year in 2021, data from the Philippine Statistics Authority (PSA) showed. The statistics agency’s Compendium...


BT staff have voted for their first national strike in 35 years, which is expected to affect customers across the country having broadband services...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.