By John Smith • 27 November 2020 • 12:56
THE British Government has decided to launch the Digital Markets Unit (DMU) as part of the Competition and Markets Authority (CMA) in order to create and oversee a new code of practice for digital platforms.
This new watchdog which will go live in April of next year intends to keep a close eye on Facebook and Google in order to ensure that smaller companies and consumers are not adversely affected by these and similar giant tech corporations.
There will also be an attempt to support the news industry by reviewing the relationship between publishers and platforms.
Business Secretary Alok Sharma said: “Digital platforms like Google and Facebook make a significant contribution to our economy and play a massive role in our day-to-day lives – whether it’s helping us stay in touch with our loved ones, share creative content or access the latest news.
“But the dominance of just a few big tech companies is leading to less innovation, higher advertising prices and less choice and control for consumers. Our new, pro-competition regime for digital markets will ensure consumers have choice, and mean smaller firms aren’t pushed out.”
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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