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Government unveils proposals to increase competition in UK digital economy Digital firms with deep-rooted market power to be subject to mandatory code to drive up competition From: 20 July 2021 New powers proposed for watchdog to suspend, block and reverse decisions by tech giants, and issue fines of up to 10% of turnover for serious breaches Watchdog to boost UK startup scene by creating level playing field Proposals have been set out for a new pro-competition regime for digital markets that will support the UK’s growing tech sector and protect consumers. The Digital Markets Unit (DMU) will be given the power to designate tech firms that hold substantial and entrenched market power with ‘Strategic Market Status’ (SMS). This will require them to follow new rules of acceptable behaviour with competitors and customers in a move that will benefit the public and drive growth and innovation across the economy.

United kingdomAndrea coscelliRocio conchaOliver dowdenKwasi kwartengGerard grechDigital markets unitStrategic market statuMarkets authoritySecretary oliver dowdenSecretary kwasi kwartengChief executiveDigital markets taskforceStrategic market statusTech nationஒன்றுபட்டது கிஂக்டம்