- this work will aim to cement the UK’s position as a
leader in this field
- it will consider ways our regime could evolve in the
context of Covid-19 and the end of the transition period
will
lead a review considering how the UK’s competition regime
can be enhanced in the context of Covid-19 and the end of
the transition period.
His work will build on recent competition policy
developments to look at how the UK’s competition regime can
further evolve to meet the government’s policy aims of
promoting a dynamic, innovation-driven economy which
delivers for consumers and businesses across all regions
and nations of the UK.
The Chancellor of the Exchequer said:
The UK’s competition policy is highly regarded around the
world. Building on this reputation and our existing
policy direction will be key as we recover from Covid-19.
John Penrose’s work will help ensure that we can drive
innovation, produce better outcomes for consumers and
allow new entrants to the market to grow.
Business Secretary said:
Competition drives down prices, creates a wider choice
for consumers and leads to better quality products and
services.
This review will ensure the UK’s competition regime is in
the strongest possible position as we build back better
from the pandemic and start our fresh new start outside
of the EU – delivering for businesses and consumers in
every corner of the UK.
The UK is an international leader in this area, as the
March 2019 Furman Review of competition in digital markets
– whose strategic recommendations the government accepted
at March Budget 2020 – demonstrated.
At Budget, the government launched the Digital Markets
Taskforce, which will look at unlocking competition in
digital markets.
John Penrose will gather expert opinion and produce a
short, independent report on the UK’s competition policy
later this year to inform Government policy making going
forward.
He brings a unique perspective from his experience in
business, understanding of everyday consumer issues from 15
years as a constituency MP, and long-running interest in
the subject.
The government published terms of
reference. Interested stakeholders can contact
competitionreport@hmtreasury.gov.uk
to engage with this piece of work.
Biography
John Penrose was appointed the Prime Minister’s
Anti-Corruption Champion in December 2017 and was
reappointed in July 2019. He was previously a Minister of
State in the Northern Ireland Office from November 2018 to
July 2019. John was first elected as MP for Weston, Worle
and the Villages in 2005.
Education
John attended Ipswich School before studying law at
Cambridge University. He also received an MBA at Columbia
University, New York.
Career outside politics
Before entering Parliament, John had an extensive business
career, which included roles at: J P Morgan (risk
management on a bank trading floor) McKinsey (strategic
management consultancy) Thompson (academic book publishing)
Pearson PLC (Managing Director of Longman’s schoolbook
publishing operations) John also helped found Credit Market
Analysis (publishing credit data for financial firms).
Personal life
John is married with 2 children. In his spare time he
enjoys fishing and beekeeping.
