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Competition law is a type of law that regulates how businesses compete with each other. It is designed to promote fair competition by preventing businesses from engaging in anti-competitive practices, such as price fixing or monopoly power.
In the United Kingdom, the competition law regime is governed by the Competition and Markets Authority (CMA). The CMA is responsible for investigating and enforcing competition law. It can impose fines on businesses that engage in anti-competitive practices, and it can also order them to change their behavior.
Competition law is an important part of the UK's economic policy, as it helps to ensure that businesses are competing on a level playing field. This promotes efficiency and innovation, which ultimately benefits consumers.
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