New CMA strategy prioritises outcomes for people, businesses, and economy
The annual plan details the CMA’s new strategy and priorities for promoting competitive markets and tackling unfair behaviour
The Competition and Markets Authority (CMA) has today published its annual plan, setting out its new strategy, priorities for the next three years and areas of focus for 2023/24. The plan details how the CMA will achieve its restated purpose: to help people, businesses, and the UK economy by promoting competitive markets and tackling unfair behaviour.
Under the new leadership of Chief Executive Sarah Cardell and Chair Marcus Bokkerink, the CMA is putting outcomes for people, businesses, and the UK economy at the heart of its strategy. Through its work, the CMA aims to create an environment where:
- People can be confident they are getting great choices and fair deals
- Competitive, fair-dealing businesses can innovate and thrive
- The whole UK economy can grow productively and sustainably
The CMA intends to achieve these outcomes by concentrating on a number of medium-term priorities throughout the years ahead. From protecting people from harmful practices and acting in areas of essential spending, particularly for people who need help the most, such as in accommodation; deterring anti-competitive behaviour and enabling innovating businesses to access markets without constraints, such as in digital markets; to enabling UK businesses and consumers to promote sustainability such as through work on green claims and energy efficiency.
The annual plan outlines the CMA’s areas of focus for 2023/24, which include:
- Investigating potential competition and consumer protection concerns in the housebuilding and rental sectors
- Addressing pressure selling and false or misleading pricing practices, including through online choice architecture
- Deterring anti-competitive behaviour, including cartels in public procurement, and other areas which have direct effects on public and household expenditure
- Ensuring new and established markets remain open to competitive, innovating businesses, to support the productivity growth and resilience of the UK economy
- Helping to accelerate the UK’s transition to a net zero economy by doing more work on green claims and following up on our call for information in the green heating and insulation sectors, as well as acting in existing and emergent markets for sustainable products and services
CMA Chair Marcus Bokkerink said:
The CMA exists to help people, businesses, and the UK economy by promoting competitive markets and tackling unfair behaviour. As people grapple with the rising cost-of-living and businesses look for ways to innovate and grow, these imperatives of open, competitive markets and playing by the rules are more vital than ever. With this plan, we set out our strategic priorities for the years ahead - and place the outcomes we can achieve for people and businesses in the UK squarely at the centre of everything we do.
CMA Chief Executive Sarah Cardell said:
I’m very pleased that our new strategy was supported in our conversations with individuals and businesses at engagement events held across the UK. Through our new approach, we are aiming to drive positive change and ensure we can have an even greater impact for people and businesses in the UK.
During the consultation process, the CMA heard from individuals, businesses, charities, trade associations and other regulators on a draft version of the annual plan. The CMA also hosted events with a wide range of stakeholders in Northern Ireland, Wales and Scotland and met with regional business leaders in Manchester. Overall, the CMA engaged with representatives of around 80 UK-wide stakeholder bodies, as well as its own staff during the consultation period.
For more information, read the annual plan in full.
Note to editors:
- All media enquiries should be directed to the CMA press office by email on press@cma.gov.uk, or by phone on 020 3738 6460