Speech to the Regulation Forum Chairs’ Summit

Here is a summary of the provided document:

The document stresses the significance of regulation in promoting economic growth and competition. It argues that a clear and effective regulatory framework is necessary to balance stability and resilience with competition and innovation. The UK's Competition and Markets Authority plays a crucial role in promoting competition and regulating markets, particularly in digital markets. The CMA's new digital markets competition regime aims to address situations where firms with entrenched market power hinder innovation and growth. The document also emphasizes the importance of accountability, transparency, and independence in maintaining public trust and ensuring effective regulation, suggesting improvements to parliamentary scrutiny, such as regular committee hearings and annual milestones.