The Digital Markets, Competition and Consumers Bill risks undermining investment, innovation and the rule of law.
Today, the Institute of Economics and the International Centre for Law & Economics has published a report which finds that proposed legislation gives the Competition and Markets Authority (CMA) power to direct digital markets – from search engines and smartphones to online shopping, advertising, entertainment, travel and news. CMA will not have to prove consumer harm before intervening.
This interventionist and unaccountable regime risks repelling investment and limiting services available to British users. The paper was authored by International Center for Law & Economics’ (ICLE) Director of Competition Policy Dirk Auer, Senior Scholar for Competition Policy at the ICLE Lazar Radic, and IEA Director of Public Policy and Communications Matthew Lesh.