Connect with us

International

British competition law calls for reform after Brexit | business

Avatar

Published

on


According to Tory MP, the government should initiate a sweeping reform of competition laws after Brexit to increase consumer confidence, lower corporate costs and revitalize the UK economy.

John Penrose, the eminent Backbench House of Representatives mandated by the government last year to explore post-Brexit opportunities for UK competition policy, has ministers enacted a new parliamentary law that updates UK consumer institutions to reflect the rise of the digital economy. Said it should start.

He called for a change to the report released on Tuesday, saying the Competitive Market Authority (CMA) regulator needs more power to impose stronger penalties for companies that do not fully cooperate with the investigation. Watchers need to find a way for their customers to easily compare the prices of free online services.

Many digital companies like Google and Facebook do not charge customers for many services, but instead collect customer data to provide insights into what ads can target consumers.

CMAs should consider how to improve the transparency of the prices consumers pay through data on digital goods and services. That way, you can make an informed choice as to whether each product represents good value and whether to switch to something else. Even better, the report said.

The results of the Penrose Review came as ministers attempted to argue that leaving the EU would provide businesses and consumers with new opportunities to revitalize the economy and raise living standards.

The government has so far faced complaints from business leaders about Brexit processing amid numerous new paperwork and delays for exporters. Boris Johnson has said this is a tooth problem that will disappear, but company bosses warn that the extra cost of doing business after Brexit is a unique feature of EU withdrawal that will hamper the UK economy.

In a 69-page report prepared by Penrose, Tory MP said the opportunity for the UK to cut bureaucratic tape costs after Brexit should be enormous. As part of the review, he said, if ministers wish to initiate a new rule, they should reintroduce the one-on-one rule used by the David Camerons coalition government, which forces ministers to scrap the old rule.

He said the government promised to cut the cost of doing business in the UK by 9 billion by cutting bureaucracy in 2018, but the removal of the one-on-one gateway condition increased costs by an additional 8 billion. Red tape stands for rules governing business practices, including health and safety standards, consumer protection and environmental protection measures.

Business secretary Kwasi Kwarteng said the government would consider the results of the review. UK competition laws and institutions are highly regarded worldwide. But as we better recover from the epidemic and begin our lives as an independent trading nation, we have a golden opportunity to strengthen that reputation, he said.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]