The opt-out collective actions regime is already promoting growth, innovation and prosperity across the UK, enabling SMEs to innovate and compete while also driving better outcomes for consumers. There is a growing body of evidence that quantifies this value and can inform decision-making.
This new independent analysis estimates the value of the opt-out collective actions regime to the UK economy is up to £10.5 billion every year. The report shows the direct benefits for small UK businesses, consumers and public sector bodies, who may lack the resources to seek redress on their own despite being harmed by anti-competitive behaviour. By deterring such behaviour to begin with, the regime helps to promote economic growth by making markets more competitive.
This report by competition experts Geradin Partners brings together new independent analysis, alongside other expert research on the economic impact of the UK’s competition enforcement regime. It examines the alternatives if the regime is curtailed - underenforcement or significantly increased taxpayer spending - and tackles the common arguments made against the opt-oput model and the Competition Appeal Tribunal. Geradin’s analysis also suggests potential reforms to strengthen the regime that could further expand access to justice for consumers and SMEs, reduce costs and improve efficiency.
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