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UK digital markets regulator to win legal powers to tackle abuses, finance minister says

( November 17, 2022, 13:29 GMT | Official Statement) -- MLex Summary: The UK digital markets regulator, housed in the Competition and Markets Authority, will win legal powers to tackle anti-competitive abuses across the sector, UK finance minister Jeremy Hunt has said today as he presented the UK government's budget plans to lawmakers. The Digital Markets Unit has operated in shadow form since April 2021. Hunt said the powers will be provided in the UK Parliament's third session, which normally runs until May. Hunt also said, noting historical events, that "the most important driver of global success is not tax subsidies but competition."Speech follows. The Autumn Statement is attached....

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