Ousted CMA chair Bokkerink defends tenure
Marcus Bokkerink, the sacked chairman of the Competition and Markets Authority (CMA), has given a staunch defence of his tenure at the regulator.
Bokkerink was ousted by the government last month in what lawyers described as the “most overtly political” regulatory intervention of recent years.
The move, which saw Bokkerink replaced by former Amazon exec Doug Gurr, shocked City advisers at the time and was seen as a clear signal of Chancellor Rachel Reeves’ approach to regulators.
But in a five page document published on Linkedin, Bokkerink argued he had supported economic growth and independence from “political intervention” throughout his leadership.
Bokkerink said he had been a keen “advocate of an approach to driving economic growth that prioritises the benefits for consumers and businesses across the UK, in line with the CMA’s statutory duties.”
This meant “recognising the essential role that competition and consumer choice play in creating the conditions for higher productivity, innovation and investment to diffuse across the economy instead of being held back by a few powerful incumbents setting the rules for everyone else”.
Citing examples including airport slots, housebuilding and infant formula, Bokkerink insisted he had routinely “advocated for the easing or lifting of government rules and regulations that hold back effective competition, investment and growth.”
Bokkerink also said he protected the “stability and predictability that comes from … having independence from politics on individual consumer protection and competition enforcement decisions”, adding: “Investors put a price on the risk of political intervention, unpredictability and inconsistency. And they demand higher returns, or even decline to invest, if this risk is high.”
He wrote: “The draft plan which the CMA published for consultation at the start of the year sets out the actions the CMA was planning to take . . . to drive further this strategy of delivering a prioritised set of positive outcomes for people, businesses and the economy.
“The government has indicated it seeks a different approach to what is set out in that plan . . . while it is not yet explicit what that different approach will be, there is of course always an alternative, and I wish Doug and the team the best of luck.”