Big changes in regulation in prospect:
The Budget and Productivity plan includes:
- commitments to a further £10Bn deregulatory savings;
- moving to the National Living Wage;
- devolving decisions on relaxation of Sunday Trading Hours to Local Authorities;
- reviews of Trading Standards and the Competition and Markets Authority.
Stakeholder responses have been mixed with criticism of both Living Wage and relaxation of Sunday Trading from ACS but generally more positive in other sectors.
CMA have published an evidence paper of the link between competition and productivity and the National Audit Office has announced that it is to review CMA activities with regard to the interests of consumers and productivity.
The Chartered Trading Standards Institute has published a paper on the potential impact on services of the budget.