Announced last week as part of the Queen’s Speech, the Better Markets Bill will boost competition and reduce unnecessary burdens on business.
Today (25 May 2016) the Department for Business, Innovation and Skills has published a series of proposals seeking views on the best way to deliver them. These include:
- proposals for a 7 day period within which people can switch providers across a range of key services, and exploring what more can be done to give consumers the power to compare products and switch quickly
- considering whether or not the landscape in regulated sectors can be improved to help consumers when things go wrong, and looking at measures to enhance the current system
- promoting competition and opening up markets to make the UK’s competition regime even faster and more decisive
Business Secretary Sajid Javid said:
I want to create an environment that backs consumers by promoting competition. By opening up markets we can ensure consumers get the best deal possible for the services they need. The government is committed to stripping out burdensome rules and empowering people to make the best decisions available to them.
The consultations launched today will build on the success of the government’s Competition Plan, guaranteeing both consumers and businesses have the information they need on the matters that mean most to them. By encouraging open and competitive markets the plan will deliver benefits for consumers and businesses alike.
Notes to editors
Consultation on competition measures.
- A call for evidence on streamlining the consumer landscape, which includes proposals on switching.
Consultation on corporate insolvency.
- Also announced today is a separate call for evidence on non-compete clauses which will seek to gather information on their impact in a bid to drive innovation and entrepreneurship.