Competition and Consumer Protection Law
Effective cross-economy competition and strong consumer protection are critical features of well-functioning markets. Competition stimulates innovation across the economy and helps to drive productivity growth, ultimately raising living standards. Strong consumer rights play an essential part in fair, free and competitive markets by providing consumers with the information and confidence to choose how and where to spend their money.
	However, recent evidence suggests that UK competition and consumer law is failing to keep pace with market developments. Overall levels of competition may have declined since the legislative framework was last overhauled in 1998, and further since the 2008 financial crisis.11