UK: Former Tory MP to head competition watchdog

Andrew Tyrie, the former chair of the Treasury select committee, has been appointed head of Britain’s competition watchdog, reported Reuters.

The government announced that the much respected interrogator and former Conservative MP for Chichester is to become chairman of the Competition and Markets Authority.

Tyrie was formerly chairman of parliament’s influential Treasury Committee, where he gained a reputation for asking tough questions. He led investigations into the banking industry after the financial crisis, the work of the Bank of England and the finance ministry.

“In the years ahead, competition can and should be put even closer to the centre of British economic life, reaching to every sector, rooting out monopoly and unfair trading practices, and enhancing Britain’s global competitiveness into the bargain,” Tyrie said in a statement.

His nomination to the Competition and Markets Authority was announced as business secretary Greg Clark proposed a package of reforms for the regulator, including efforts to ensure new technology and data are used to benefit consumers and stronger action against scams.

Full Content: Reuters

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