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Narrated by James Marriott
Talk to chief executives and big investors about Britain and before long the subject of regulation will come up – and rarely in a happy way. Leaders of business and finance alike fret that the British state is too active, too keen to intervene in the functioning of markets and the companies that operate in them.
Some economic watchdogs are particularly keen to bare their teeth. The Competition and Markets Authority recently added the veterinary sector to the list of markets it’s investigating on suspicion of letting down consumers.
The Financial Conduct Authority is energetic too. Its new “consumer duty” on firms to look after customers better is being seen as a stick with which to beat companies: last week the insurance industry was chastised