Office of Fair Trading: Competition Commission

Business, Innovation and Skills written question – answered on 26th June 2012.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills what savings his Department has estimated will arise from the proposed merger of the Office of Fair Trading and the Competition Commission over and above those expected from the 2010 Spending Review.

Photo of Norman Lamb Norman Lamb The Parliamentary Under-Secretary of State for Business, Innovation and Skills

holding answer 21 June 2012

The Government have always made clear that the main purpose of creating the new Competition and Markets Authority (CMA) and implementing reforms is to strengthen the competition regime to support growth. Savings will mainly be from streamlining, and eliminating overlaps between the phase 1 and phase 2 of investigations. The impact assessment identified the potential costs and savings and quantified some of these. In preparing for the transition to the new CMA the Government will continue to refine these estimates as the structure and nature of the transition becomes clearer.

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