Competition watchdog publishes strategy statement for next two years

Competition watchdog publishes strategy statement for next two years

Brian McHugh

The Competition and Consumer Protection Commission (CCPC) has published its strategy statement for 2024–26 — its first since gaining new enforcement powers through legislation.

The strategy statement, which takes effect from 1 January 2024, sets out the four strategic goals which span the CCPC’s broad remit and work, namely to:

  • use all our tools, including our new powers, to increase enforcement and compliance outcomes;
  • empower consumers to make informed choices;
  • be the leading voice in promoting open and competitive markets and representing the interests of consumers; and
  • evolve and grow in size and capability.

Brian McHugh, chair of the CCPC, said: “In an era marked by unprecedented changes in the consumer and competition landscape, the role of the CCPC has never been more significant.

“Our strategy statement 2024-2026 details our forward-looking and innovative approach, envisioning a thriving economic landscape where competition is robust, consumers are empowered, and markets are governed by fair rules.

“The CCPC will employ an expanded set of enforcement powers across our competition, consumer protection, and product safety remit. Our increased enforcement not only signals that breaches of the law will be penalised but acts as a potent deterrent, promoting greater compliance across the economy.

“As a strong public advocate, we take pride in our role as protectors of consumers and promoters of competition. We emphasise robust, evidence-based arguments and aim to translate our work into meaningful changes in consumers’ lives through research and stakeholder engagement.

“The CCPC has undergone remarkable growth, expanding its portfolio and capacities and adapting to the digital shift. This expansion is set to continue, particularly as the regulation of digital and the data space evolves. Ensuring our team is well-equipped and structured to match our expanded remit remains a priority.”

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