Better Markets Bill to arm consumers with more power and choice
Thursday May 26th, 2016
The government has taken steps to improve Britain’s competitiveness and open up markets, in a bid to empower consumers with greater choice.
Announced last week as part of the Queen’s Speech, the Better Markets Bill will boost competition and reduce unnecessary burdens on business.
The Department for Business, Innovation and Skills has published a series of proposals seeking views on the best way to deliver them. These include:
- proposals for a 7 day period within which people can switch providers across a range of key services, and exploring what more can be done to give consumers the power to compare products and switch quickly
- considering whether or not the landscape in regulated sectors can be improved to help consumers when things go wrong, and looking at measures to enhance the current system
- promoting competition and opening up markets to make the UK’s competition regime even faster and more decisive
The consultations will build on the success of the government’s Competition Plan, guaranteeing both consumers and businesses have the information they need on the matters that mean most to them. By encouraging open and competitive markets the plan will deliver benefits for consumers and businesses alike.
Business Secretary Sajid Javid said:
“I want to create an environment that backs consumers by promoting competition. By opening up markets we can ensure consumers get the best deal possible for the services they need. The government is committed to stripping out burdensome rules and empowering people to make the best decisions available to them.”
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