CMA publishes Annual Plan 2022 to 2023
CMA Chair Jonathan Scott says competition is “more important than ever before” as concerns mount over the cost of living.
The Annual Plan explains how the Competition and Markets Authority (CMA) will protect consumers, promote competition and help support the economy in the year ahead. It aims to encourage innovation, productivity, and sustainable growth to benefit all nations and regions of the UK.
Jonathan Scott, Chair of the CMA, said:
At a time of rising concern over the cost of living, competitive markets have a crucial role to play in keeping prices for consumers as low as possible. Competition will also be vital for promoting innovation, productivity and growth in our economy.
Over the last year, we have worked tirelessly to achieve great results for people in the UK, including securing refunds for people whose holidays were cancelled; freeing people from costly ground rent clauses; and launching our first investigations to crack down on companies that make misleading green claims. Looking to the year ahead, competition will be more important than ever before, and our Annual Plan outlines our continued commitment to boosting competition and protecting consumers.
In 2022 to 2023, the CMA will focus on the following themes:
- Protecting consumers from unfair behaviour by businesses, during and beyond the COVID-19 pandemic
- Fostering competition to promote innovation, productivity and long-term growth right across the UK
- Promoting effective competition in digital markets
- Supporting the transition to low carbon growth, including through the development of healthy competitive markets in sustainable products and services
- Delivering our new responsibilities and strengthening our position as a global competition and consumer protection authority
During the consultation process for the draft Annual Plan, the CMA sought insight directly from consumers, representative charities, and businesses. As well as receiving 19 written submissions from organisations that overwhelmingly supported the themes set out in the plan, the CMA held meetings with stakeholders and hosted events across all 4 nations of the UK.
For more information, read the annual plan in full.