United Kingdom: Announced Digital Markets, Competition and Consumer Bill

On 17 November 2022, the UK Chancellor of the Exchequer announced, as part of the Autumn Statement presented to the Parliament, that the government will bring forward the “Digital Markets, Competition and Consumer Bill” in the third Parliamentary session, which is set to begin in May 2023. The Bill will provide new powers to the Competition and Markets Authority’s Digital Markets Unit to promote and tackle anti-competitive practices in digital markets. Further, changes will be introduced to the competition framework to include streamlined decision making and update merger and fine thresholds. Finally, in relation to consumer protection, the Bill will address “subscription traps” and online fake reviews.