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UK Competition Law Overhaul: Faster, Fairer Rules Ahead
20 Jan
Summary
- UK government launches consultation to speed up competition probes.
- British Business Bank to invest £25 million in AI energy firm Kraken.
- Regulator to review 33 market remedies potentially no longer needed.
The UK government has initiated a significant review of its competition regime, proposing changes designed to make regulatory processes faster, more predictable, and proportionate. This formal consultation aims to streamline anti-trust investigations and merger reviews, ensuring greater certainty for businesses. The Competition and Markets Authority (CMA) will collaborate closely with the government, while maintaining its independent decision-making authority.
As part of this initiative, the CMA is also reviewing existing market remedies, identifying 33 measures that may no longer be necessary, potentially easing compliance burdens for companies. This regulatory recalibration seeks to bolster the UK's position as an attractive market for innovation and investment.
Complementing these regulatory reforms, the state-owned British Business Bank will invest £25 million in Kraken Technologies, an AI energy software firm. This substantial investment, the bank's largest direct funding to date, supports Kraken ahead of a potential London listing and underscores the government's strategy to back promising domestic companies with significant capital.
