UK will introduce new competition regulations to restrain the anti-competitive behavior of giants such as Google and Facebook

The British government plans to implement a new competition mechanism next year to restrain the anti-competition of US technology giants such as Google and Facebook.

Google and Facebook have a dominant position in the advertising market in many countries or regions around the world, and these companies can use the collected data to crowd out small competitors.

Even using the collected data, these giants can treat consumers differently in order to obtain more benefits. Therefore, the UK is preparing to introduce new regulations to restrict.

The UK plans to set up a new department by the British Antitrust Inspection Agency and the Market Authority next year, which is responsible for formulating new regulations and managing and restraining these giants.

The British antitrust regulator said that Google and Facebook dominate the digital advertising business, and the two companies have a market share of 80% in the UK.

For example, in 2019, the total consumption of the advertising industry in the UK was 14 billion pounds. Google and Facebook received a total of 11 billion pounds, and only a small part of it was obtained by other companies.

Google and Facebook said they are committed to cooperating with the UK government and regulators in the field of digital advertising, including giving users more control over data.

Of course, these remarks cannot completely dispel the doubts of the British government. Therefore, the British government plans to establish a newly established department to begin work and management in April next year.

The department will obtain a broader authorization to be able to suspend, prevent, or even completely reverse the policies of these giants, and at the same time fines for non-compliance. The British government stated that companies need to increase transparency in how they use user data.

In addition, these new regulations will also apply to the British press and publishing industry, and promote the relationship between the press and publishing industry and large platforms to be more balanced.

Via: Reuters