The Competition Network
The Competition Network
As well as establish the UK’s Competition and Markets Authority (CMA) the Enterprise and Regulatory Reform Act 2013 strengthened the powers of the various industry and sector regulators, and, in late 2013, led to the establishment of the UK Competition Network (UKCN).
The role of the UKCN is to act as a forum for increased co-operation between the various regulators, so that there is more consistency in the application of competition law.
A co-ordinated approach towards regulation is likely to help identify ‘opportunities’ to use regulatory powers to promote the effective use of market mechanisms in the sectors covered. This in turn is likely to help improve productivity and build a more dynamic macro-economy.
Of course, UK competition law is closely entwined with that of the EU. This means that Brexit will create challenges for the CMA (and the UKCN), and lead to a review of its role in a Post-Brexit competition environment. This will almost inevitably mean the allocation of more resources to the CMA as it increases its scope of activities, with the possibility of acquiring enhanced powers. This, of course, depends upon whether the UK remains in the ‘single market’ or not, and the nature of an any transitional arrangement.
Explaining The K-Shaped Economic Recovery from Covid-19 A K-shaped recovery exists post-recession where various segments of the economy recover at their own rates or levels, as opposed to a uniform recovery where each industry takes the same ...
Does Public Choice Theory Affect Economic Output? Both on paper and in real life, there is a solid relationship between economics, public choice, and politics. The economy is one of the major political arenas after all. ...
Largest Retail Bankruptcies Caused By 2020 Pandemic As we know at this point, the COVID-19 pandemic has thrown major companies in the US and the world over into complete havoc. Many have filed for bankruptcy, with an ...
Identifying Speculative Bubbles and Its Effect on Markets Speculation plays an interesting role in economics and one that drastically affects markets. If you ever see "speculation" in this context, be sure to pay attention. It is ...
Explaining The Disconnect Between The Economy and The Stock Market Starting with the end of the 2009 recession, the U.S. economy grew 120 straight months, the longest stretch in history. During that time, the S&P ...
Consumer Confidence Compared to Q2 Job Growth Since WWII, nothing has caught global attention and heightened economic fears quite like Covid-19. Many economies are at the brink of collapse, as companies struggle to stay afloat. World governments ...