By: Dirk Auer (Truth On The Market)
The intention behind Brexit was to liberate the United Kingdom from burdensome regulations and bureaucracy imposed by Brussels. However, aspirations of transforming into a thriving tech hub akin to Singapore are gradually being overshadowed by poorly thought-out regulations that jeopardize Britain’s position on the global stage.
A prime example of this is the recent decision by the UK Competition and Markets Authority (CMA) to block the merger between Microsoft and game-maker Activision-Blizzard. Astonishingly, barely a month after the CMA officially expressed its opposition to the merger, the European Commission intervened, throwing a wrench into the proceedings. Despite the same set of facts being examined, the commission, not exactly renowned for its embrace of free-market principles, determined that the merger would enhance competition and benefit consumers, thereby allowing it to proceed within the European sphere…
