CMA Growth and Investment Council meeting minutes: 3 July 2025
Published 25 July 2025
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Meeting date: 3 July 2025
Venue: In the Cabot, London, and online
CMA board members present
- Sarah Cardell (Chair), Chief Executive Officer
- Doug Gurr, Interim Chair
Advisors present
- Jessica Lennard, Chief Strategy and External Affairs Officer
Attendees present
- Julia Hoggett, CEO, London Stock Exchange
- Irene Graham, CEO, ScaleUp Institute
- Dom Hallas, Executive Director, Startup Coalition
- Carolyn Dawson, CEO, Founders Forum Group
- Helen Dickinson, CEO, British Retail Consortium
- Michael Moore, CEO, British Private Equity & Venture Capital Association
- Samiah Anderson, Head of Digital Regulation, techUK
- John Foster, Chief Policy and Campaigns Officer, Confederation of Business Industry
- Martin McTague, Chair, Federation of Small Businesses
- Bob Wigley (online), Chair, UK Finance
CMA observers
- Anthony Wright (online), Senior Director of Communication and Engagement
- Vlada Aikman, Director of Stakeholder Engagement
- Trixxy Just, Deputy Head of External Engagement
Apologies
- Baroness Martha Lane Fox, President, British Chambers of Commerce
Agenda
1. Welcome, introductions, and opening remarks by the Chair
The Chair welcomed members and offered reflections on the benefits of recent engagement, including bilateral meetings, expressing their gratitude for the opportunities to amplify the CMA’s messaging. The Chair noted that there is an increasing sense of common purpose amongst the regulatory community, of which the CMA is part, and the business community that the Council members represent.
2. Reflections on launch of UK’s Modern Industrial Strategy
The CMA updated the Council on its contributions to the UK’s Industrial Strategy, including policy sprints on defence and innovation ecosystems, engagement with growth-driving sectors, and work with universities on pro-competitive collaboration. The CMA is currently focusing on scale-ups.
Council members emphasised the importance of cross-cutting enablers like skills, planning, and procurement, and called for outcome-driven regulation. They welcomed the focus on making the regulatory system more proportionate.
The Chair noted 3 key areas of focus for the CMA going forward:
- showcasing the UK’s world-class regulatory regime as a growth driver
- identifying key enablers to unlock effective competition in key sectors
- discussing what is needed to build a pathway to globally significant UK companies
3. CMA impact and measurement
The CMA outlined its evolving approach to impact and performance measurement, with the aim to better reflect broader contributions like economic research, policy advice, deterrence, and business compliance support in its framework.
Council members emphasised assessing both regulatory benefits and costs. The Chair confirmed that the CMA is enhancing its cost-benefit methodology, considering sectoral impact, uncertainty, and internal resources. Members suggested using forums like the Council for identifying regulatory overlaps and designing stakeholder surveys. They advocated starting with desired outcomes to develop KPIs, maintaining flexibility, and benchmarking against international standards.
4. Consumer law guidance for businesses
The CMA discussed updating business guidance under the new consumer protection regime, emphasising accessibility and relevance, particularly for SMEs.
Council members emphasised addressing compliance ‘grey areas’ where businesses need clarity. They suggested forums for businesses to engage with the CMA and hear decision rationales.
Co-creation forums were proposed to prioritise topics and ensure practical guidance, especially for SMEs. The Chair welcomed these discussions to advance CMA’s strategic thinking.
5. Chair’s summary and close
The Chair expressed a sense of energy and momentum coming out of the session, noting that the Council’s work is becoming increasingly concrete and impactful, moving beyond discussion into delivery.
The Council discussed and agreed to the same frequency of meetings (quarterly) for 2026.
The Chair closed the meeting.