Matthew Sinclair

A great pleasure to speak on @spectator / @ccianet standing-room-only panel in Birmingham, very ably chaired by @ShippersUnbound with @DrBenSpencer, @mjhsinclair, Chris Yiu, and Eve Lugg. We discussed how the UK can build on its technology strengths and gain leverage by taking an open approach, making Britian the best place in the world to invest in and grow companies, particularly by getting regulation right on issues like data, copyright, data centres, and AI.

Regulators are one of the biggest handbrakes on Britain’s economy. Every unnecessary intervention makes it harder to invest, innovate and grow, ultimately leaving consumers with fewer choices, slower innovation and higher costs. Too often, regulators seem more interested in redesigning successful markets than asking a simple question: does this actually make life better for ordinary people? The CMA, originally designed to promote consumer welfare, is a preeminent example of a regulator tha has totally fallen off the wagon. Its proposals for app stores are a quintessential example. Instead of focusing relentlessly on the outcomes consumers actually value, the CMA increasingly appears preoccupied with redesigning successful digital markets. That may satisfy a handful of well-connected commercial interests, but it doesn’t necessarily deliver better outcomes for the millions of people who use these services every day. Ask consumers what they want from their phones and apps: security, reliability, privacy, useful new features and the freedom to choose the products that work best for them. They don’t spend their evenings worrying about payment routing rules or app store fee structures. They care about having a safe, seamless and trustworthy experience. Competition policy should always start and end with consumers. If an intervention weakens the things consumers value most, namely security and usability, in pursuit of a theoretical vision of how a apps should operate, regulators should think twice before acting. The CMA’s job isn’t to redesign markets for the benefit of the loudest lobbyists. It’s to ensure consumers are better off.