Which? responds to the Social Market Foundation’s report ‘Banking and competition in the UK economy’

Rocio Concha, Director of Policy and Advocacy at Which?, said:

“A decline in competition across the economy is a serious concern. It hurts consumers by reducing choice, increasing prices and stifling innovation.

“Since the UK’s departure from the EU, the government has an opportunity to reform and strengthen competition policy to make it work better for consumers. Above all, that means arming the CMA with appropriate enforcement powers to ensure it can intervene effectively in failing markets.”

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