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Change is on the agenda

The Labour Party has competition regulation in its sights, and it is increasingly clear that, in government, the Party would take steps to reshape regulatory activity to give it a stronger focus on economic growth and consumer protection, and to make markets ‘deliver for the people’.

A recently leaked blueprint for the Party’s 2024 General Election Manifesto made it clear that Labour would reform the competition regime and make it “fit for the modern economy, promoting innovation while protecting consumers.”

Prosperity through partnership

Labour has already committed to address the novel challenges posed in digital markets. The Party’s industrial strategy also highlights how competition could operate more effectively across the whole economy, including the everyday economy, a particular focus for Labour.

It is clear that Labour will force competition regulation away from the dry and theoretical practices of the recent past towards practical steps that protect consumers and grow the economy, and that can be shown to do so. Head-scratching decisions from the regulator will come under intense scrutiny from a party keen to deliver early results.