The CMA announces a new growth-focused work programme from its Microeconomics Unit alongside publication of its third State of Competition report
To support the UK government’s growth mission and Industrial Strategy, the Competition and Markets Authority (CMA) has today announced the next programme of work to be conducted by economists in the CMA’s specialist Microeconomics Unit (MU).
In its recently published Industrial Strategy Green Paper, the UK government noted the importance of “competitive and innovative business ecosystems, particularly in industries with low market dynamism and high barriers to entry” and the need for “competitive markets to improve efficiency and improve the performance of interconnected value chains, ultimately benefiting consumers through better prices, quality, and choice”.
The CMA’s new MU Growth Programme will focus on critical drivers and blockers of growth including: how easily or not new technology spreads across the economy; the impact of upstream market power on economic performance and supply chain resilience; and how competition impacts investment.
This new work programme follows the CMA’s third State of Competition report, also published today.
Sarah Cardell, Chief Executive of the CMA, said:
The CMA’s third State of Competition report is the most comprehensive assessment to date of how competition is working in the UK. Today’s report reinforces the importance of continued action by the CMA and wider UK government to keep markets open, competitive, and dynamic.
Key findings of the CMA’s third State of Competition report include:
The CMA’s MU Growth Programme will focus analysis across a range of issues including:
Notes to Editors