Competition and Markets Authority: Finance

(asked on 16th October 2018) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if the Government will provide additional funding to the Competition and Markets Authority.


Answered by
Elizabeth Truss Portrait
Elizabeth Truss
This question was answered on 22nd October 2018

At the Autumn Budget 2017, the Government committed over £1.5bn of additional funding to help departments and the devolved administrations to prepare for the UK’s exit from the EU in 2018/19. A full breakdown of allocations can be found in the Chief Secretary’s Written Ministerial Statement, HCWS540, laid on the 13th March (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/)

The Competition and Markets Authority (CMA) was allocated £23.6 million in 2018/19 as part of this.

At Autumn Budget 2017, the Chancellor also set aside £1.5 billion of additional funding for department’s EU Exit preparations in 2019/20. The Treasury has received the CMA’s bid and will announce further details about allocations in due course.

At the same time, the Chancellor announced £2.8m a year in additional funding for the CMA to take on more cases against companies acting unfairly.

All long-term funding decisions are for the next Spending Review, which will take place in 2019.

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