Schedule 4 - The Competition and Markets Authority

Part of Enterprise and Regulatory Reform Bill – in a Public Bill Committee at 1:45 pm on 5 July 2012.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Innovation and Skills) 1:45, 5 July 2012

I am not one of them. For the sake of clarity, I will read from the Liberal Democrat manifesto:

“We will increase Parliamentary scrutiny of the budget and of government appointments”.

The Minister’s colleague, the Chancellor of the Exchequer, has promised the Chair of the Treasury Committee a veto over the appointment of future chairs of the Office for Budget Responsibility. The Minister sat on the Committee for two years. I am sure he would have enthusiastically welcomed the extra power of scrutiny. We should be in absolutely no doubt that the chair and chief executive of the CMA will be major public appointments. As they are responsible for our competitive environment, I do not see how anyone could argue otherwise.

The independent OBR exists to examine and report on the sustainability of public finances—that will be subject to parliamentary scrutiny—whereas the CMA has the equally important task of overseeing the competition and market regime for one of the world’s largest economies. Furthermore, if parliamentary protocol allows me to mention it, similar amendments have been considered favourably in another place with regard to the groceries code adjudicator. I know, because the Government recently told me so, that this House has absolute precedence. Nevertheless, I hope to excite a little competitiveness in the Minister with regard to parliamentary scrutiny so that this House can go at least as far as the other place has.

So, we have relevant precedents set by the Government and we have the public manifesto commitments of both coalition parties. It is strange that it is Her Majesty’s Opposition who have tabled the amendments, but we are happy to help in this particular case. I am sure we will have speedy agreement from the Minister.