People urged to have their say on whether competition in the
digital market is being is stifled by powerful tech giants.
An independent panel of experts – led by former Obama advisor
Professor Jason Furman – today launches a call for evidence as
they look at competition in the digital sector.
The UK is at the forefront of the technological revolution and
ministers want to ensure that everyone benefits from this.
Competitive markets mean that companies offer consumers more
choice, better value for money, and higher-quality products and
services.
Experts, businesses, and the general public can have their say
on:
- The pros and cons for consumers of the current market
set-up, where a small number of companies dominate digital
markets
- Whether their accumulation of people’s data is holding back
new companies that could offer people innovative products and
services
- How we can further strengthen our rules to boost
competition and give consumers more choice and quality in
services they access online
- How we can make sure people continue to benefit from new
products and services by enhancing innovation in digital
markets.
The Chancellor of the Exchequer, , said:
“We will ensure the UK remains at the forefront of the
technological revolution as we build an economy fit for the
future and equip people with the skills they need to succeed in
it.
“But there are concerns that the big players could be
accumulating too much power in our new digital world. Therefore
we must ensure we have the right regulations so that our
digital markets are competitive and consumers are protected.
“I would urge people to have their say, and look forward to
receiving the panel’s recommendations.”
Chair of the independent review, Professor Jason
Furman, said:
“We want to hear from people of all ages, businesses of all
sizes, and experts from all fields, to help inform our review
so we can ensure all parts of society benefit from the
technologies of the future.
“Digital markets have produced significant consumer benefits
and we are focusing on how to ensure that remains the case,
while fostering competition and boosting the economy.”
The review is investigating the UK’s competition regime in the
context of the digital economy. It is examining how this
affects consumers, and the impact of competition policy on the
UK’s growth, productivity, wages and labour markets.
The panel started its work in September and will publish in
early 2019 a final report of recommendations. Over the course
of the review, the panel is meeting with a wide range of
academics, businesses and representative groups.
The panel consists of:
Professor Jason Furman
Professor Jason Furman served as the top economic advisor in
the Obama administration, including his role as chair of the
Council of Economic Advisers from August 2013 to January 2017,
acting as both chief economist and a member of the cabinet. In
academia, he has conducted research in a wide range of areas
including: fiscal policy, competition policy, tax policy,
health economics and international and domestic macroeconomics.
Professor Diane Coyle CBE
Professor Diane Coyle CBE is the Bennett Professor of Public
Policy at the University of Cambridge and has held a number of
public service roles including Vice Chair of the BBC Trust
(2006-2014), member of the Competition Commission (2001-2009),
and member of the Migration Advisory Committee (2009-2014). She
is currently a member of the Natural Capital Committee, an
expert adviser to the National Infrastructure Commission and a
member of the Council of Economic Advisers.
Professor Amelia Fletcher OBE
Professor Amelia Fletcher OBE is the Professor of Competition
Policy at the Centre for Competition Policy, University of East
Anglia. She is a Non-Executive Director at the Competition and
Markets Authority, the Financial Conduct Authority and the
Payment Systems Regulator. She was previously Chief Economist
at the Office of Fair Trading (2001-2013).
Professor Derek McAuley
Professor Derek McAuley is Professor of Digital Economy in the
School of Computer Science at the University of Nottingham. He
is Director of Horizon, an interdisciplinary Digital Economy
research institute and previously founded the Cambridge
Microsoft Research facility and the Intel lablet in Cambridge.
He is a Fellow of the British Computer Society and member of
the UK Computing Research Committee’s executive committee.
Professor Philip Marsden
Professor Philip Marsden is Professor of Law and Economics at
the College of Europe, Bruges, and Senior Director, Case
Decision Groups at the Competition and Markets Authority (until
end September) and CMA representative at the NESTA Open Banking
panel. He is also Deputy Chair of the Bank of England’s
Enforcement Decision Making Committee and co-founder and
General Editor of the European Competition Journal.
