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.
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.