Competition and Markets Authority

Lord Clement-Jones Excerpts

Thursday 25th June 2020 Lords Chamber

[Lord Callanan]

On that final point, we will of course run a full and open competition process. We will appoint the best person for the job. We committed in our manifesto to tackle consumer rip-offs and bad business practice. Where we need to give the CMA new powers, we will look at that, but it already has extensive powers, as proven by the cases it is currently pursuing. It is one of the leading regulators in the world and, as I said, we will look at giving it additional powers if necessary.

[Lord Clement-Jones (LD) [V]]

My Lords, the noble Lord, Lord Tyrie, and Professor Furman have clearly spelled out the challenges of the digital age. I heard what the Minister said on this, but do the Government intend to address these issues or will they continue to allow big tech to rampage across our economy in digital markets such as social media, e-commerce, search and online advertising? Will the Government set out their proposals any time soon?

[Lord Callanan]

The regulation of digital e-commerce is extremely important. As I have said, the CMA has set up the digital markets taskforce to study these matters, but they are complicated. This country has one of the best competitive markets in the world and digital markets are an increasingly important part of that. We will look at what further measures need to be taken.