The Chief Executive of the UK Competition and Markets Authority (CMA) addressed the Fordham conference, emphasizing the importance of competition law and policy in today's economic climate. The convergence of various stakeholders at the conference highlights the need for a rich debate on the purpose of antitrust law, especially during times of economic turbulence.

Reflecting on the CMA's recent evolution, the Chief Executive noted the agency's commitment to promoting competition while adapting to a new government focus on economic growth. The CMA's strategic steer from the government emphasizes the need to balance its statutory functions with the growth mission, ensuring that its actions support investment and business confidence.

The CMA has introduced the '4Ps' programme, focusing on pace, predictability, proportionality, and stakeholder engagement to enhance its operational effectiveness. This transformation aims to deliver impactful outcomes swiftly while maintaining trust among stakeholders.

In terms of prioritization, the CMA is applying a pro-growth mindset to its work, ensuring that its enforcement actions against anti-competitive behavior also consider the potential for collaboration that can drive innovation and economic benefits. The agency is reviewing its approach to merger remedies to facilitate genuine investment benefits.

Furthermore, the CMA is actively engaging in the new digital markets competition regime, focusing on significant players like Google and Apple to ensure fair competition and protect consumers. The agency's efforts are grounded in evidence and tailored to the specific context of the UK market.

Finally, the Chief Executive highlighted the importance of measuring the CMA's impact, noting that the agency's recent assessments show significant benefits to consumers and taxpayers. The CMA is committed to refining its methodologies to better reflect its evolving priorities and the broader value it provides to society.