Former Chairman of the Competition and Markets Authority (CMA), the Rt Hon Lord Tyrie, was the guest of the University of Chichester recently as he shared his insight and expertise with an audience of students and the general public.
Lord Tyrie joined Keith Sinclair, Lecturer in Law at the university for a wide-ranging fireside discussion about his career and his thoughts on developments since The Digital Markets, Competition and Consumers Act became law in 2024. He also shared his perspective on how Big Tech has impacted our lives as consumers and how the CMA can regulate this. The term ‘Big Tech’ refers to influential technology firms – particularly the ‘big five’; Apple, Amazon, Google, Meta and Microsoft.
Lord Tyrie said “The CMA needs to show that it is capable of responding to growing public concern. The digital age has created new points of vulnerability for millions of people. Many now sense that they are ripped off – even the digitally literate become vulnerable because they are time poor.
“Digital detriment continues to grow: there is much to do. The Digital Markets, Competition and Consumers Act has given the CMA a new and powerful toolkit. They now need to deploy it fully in the consumer interest.”
He added: “Fines here in the UK are puny compared to those imposed in Europe and particularly the US. The CMA has no excuse for not cracking down on digital scams and consumer protection issues.”
Keith Sinclair, Lecturer in Law said: “It was a real treat to have such a distinguished figure with us at the University of Chichester. It was an invaluable opportunity for students, staff and the wider community to engage directly with one of the most influential voices in modern UK competition law and policy.”
Lord Tyrie was the MP for Chichester from 1997 until he stood down in 2017. He served in the Shadow Cabinet and was made a Life Peer in 2018. He now sits in the House of Lords.