The UK will take an important step towards the creation of an independent authority to oversee its post-Brexit subsidy regime on Wednesday when it launches a consultation on how the new body will operate and whether it should have enforcement powers, reported Financial Times.
Rows over state aid were a major sticking point in the Brexit negotiations, with Brussels initially insisting Britain’s rules should remain aligned with the bloc.
That position was strongly resisted by prime minister Boris Johnson, who argued that breaking free of the EU on state aid would enable the UK to take a nimbler approach. The clashes over the issue were resolved in the December EU-UK trade deal, with Britain agreeing to set up an “independent authority” to monitor subsidy decisions.
The consultation, being run by the business department, will consist of 42 questions and seek opinions on whether to have a minimum threshold for subsidy deals before they face scrutiny as well as the timing of disclosure of deals.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.