THE IMPLICATIONS OF BREXIT FOR UK COMPETITION LAW AND POLICY

Brexit raises particular issues for competition law and policy because it is a field in which the European Commission is a major direct actor, and where national authorities-with the UK's playing a notably strong role-operate in a European network. To foster public debate and inform government policy, the authors established the Brexit Competition Law Working Group, and the article that follows is the text of their final report of July 2017. The report has two main themes. First, Brexit should not jeopardise the legislative or institutional continuity of UK competition law. The main pillars of UK competition law-the Competition Act 1998 and the Enterprise Act 2002-do not require radical reform because of Brexit, though some amendments will be needed. The second theme, however, is the problematic nature of transition to the environment post-Brexit, and of how to secure effective international coordination and cooperation within it. With an end to the "one-stop shop" for merger assessment, the demands on the UK's Competition and Markets Authority could rise sharply, and unless its resources and capabilities are enhanced, UK competition policy could be weakened just when it needs strengthening.