UK competition watchdog chairman 'ousted' amid claims he didn't focus on growth

At an concern acme successful October, Sir Keir stated the Government 'will marque definite that each regulator successful this country, particularly our economical and contention regulators, takes maturation arsenic earnestly arsenic this country does'

Marcus Bokkerink, the president of the UK's contention watchdog, has stepped down from his relation amid claims that helium was forced retired by Government ministers for not prioritising maturation enough.

An insider confirmed connected Tuesday that Mr Bokkerink is nary longer astatine the helm of the Competition and Markets Authority (CMA). The Financial Times initially reported the departure, citing sources who said Business Secretary Jonathan Reynolds had stepped successful connected Monday evening.

It's believed the Department of Business and Trade told Mr Bokkerink that the regulator wasn't doing capable to beforehand economical growth. Appointed arsenic president successful 2022 by then-chancellor Kwasi Kwarteng, Mr Bokkerink antecedently held a elder presumption astatine consulting elephantine Boston Consulting.

CMA chairs typically service up to a five-year term. Reports suggest Doug Gurr, manager of the Natural History Museum and erstwhile state manager of Amazon UK, has been appointed arsenic the caller interim chair. The watchdog has precocious faced criticism, including from Prime Minister Sir Keir Starmer, pursuing complaints from businesses that it interferes excessively overmuch with deals.

At an concern acme successful October, Sir Keir stated the Government "will marque definite that each regulator successful this country, particularly our economical and contention regulators, takes maturation arsenic earnestly arsenic this country does".

The CMA faced nationalist disapproval from Microsoft aft the watchdog initially blocked the tech firm's projected acquisition of gaming behemoth Activision Blizzard. In 2023, Microsoft's president Brad Smith labelled the UK arsenic "bad for business", though the woody was yet approved.

This follows Rachel Reeves' telephone for regulators to "tear down" bureaucratic hurdles to stimulate stronger economical growth. Earlier successful January, the Chancellor and the Business Secretary held a gathering with the heads of regulatory bodies.

Ms Reeves emphasised to these leaders that they indispensable "tear down regulatory barriers" to promote concern business and innovation, thereby enhancing the UK's maturation potential. The CMA and the concern section person been contacted for their comments.