"The Competition and Markets Authority (CMA) has designated Google with "strategic market status" under a law which came into force in January. The decision does not mean the regulator has found wrongdoing at this stage. Instead, it opens the door to what it called "proportionate, targeted interventions" to ensure the market is competitive. Google has warned against any measures which its says might "inhibit UK innovation and growth.""
""As a result, they see significant value: Google Search contributes billions of pounds a year to the UK economy 118 billion in 2023 alone. "Many of the ideas for interventions that have been raised in this process would inhibit UK innovation and growth, potentially slowing product launches at a time of profound AI-based innovation.""
The Competition and Markets Authority has designated Google with strategic market status under a law that came into force in January. The designation does not amount to a finding of wrongdoing but enables proportionate, targeted interventions to promote competition. The CMA found Google maintains a strategic position in search and search advertising, with more than 90% of UK searches on its platform. Google highlighted its economic contribution, citing £118 billion in 2023, and warned that some intervention ideas could inhibit innovation and slow AI-driven product launches. The CMA expects to consult on potential changes later in 2025.
Read at www.bbc.com
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