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UK: Budget woes plague Competition Commission

 |  July 16, 2013

UK antitrust regulator the Competition Commission exceeded its budget in the last financial year by nearly $30 million in the last fiscal year, but the watchdog says it expects to exceed its budge again ahead of its merger with the Office of Fair Trading. Reports say the CC spent more than $31 million in the last financial year, 28 percent more than in FY11. Now, the regulator says it will need nearly $40 million this year as it prepares to merge with the OFT and begin operations in April as the Competition and Markets Authority. The Department of Business, Innovation and Skills has only allotted about $27 million for the watchdog, however.

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