The Government has been urged to publish its draft bill aimed at clamping down on anti-competitive practices by MPs, who have warned that the delay is leaving consumers at risk.
MPs on the Business, Energy and Industrial Strategy (BEIS) Committee have released a report calling for the Digital Markets, Competition and Consumer Bill to be published “without delay” as they warned some firms were already abusing their dominance.
First announced in the Queen’s Speech in May, the proposals would give new powers to the Digital Markets Unit within the Competition and Markets Authority (CMA) to tackle anti-competitive behaviour by tech giants and protect consumer rights.
The Committee said it welcomed the plans – which would also see the turnover threshold for immunity from financial penalties be dropped from £50 million to £20 million and increase potential maximum fines to 10% of global turnover – but has warned that the public remains at risk until the Bill is published and passed.
The BEIS Committee chair, Darren Jones, has now called on the Government to make the Bill a priority, with the Committee highlighting what it called “strong evidence of abuses of market dominance” within digital markets already taking place.
The CMA last week re-issued an order against Facebook owner Meta to sell the recently acquired animated image firm Giphy, while the watchdog is also currently investigating Apple and Google on issues around their dominance in digital markets.
“Digital Markets, Competition and Consumer Bill has wide support and should be prioritised, especially given the difficulty the Government currently has at passing other laws which are more controversial,” Mr Jones said.
“There are many areas in the economy where stronger competition is required in the interests of consumers, small business and economic growth and this bill is an essential stepping stone to driving this issue forward.”
