Written question asked by Ian Roome (Liberal Democrat) on Thursday, 17 April 2025, in the House of Commons. It was due for an answer on Wednesday, 23 April 2025. It was answered by Justin Madders (Labour) on Tuesday, 29 April 2025 on behalf of the Department for Business and Trade.

Credit Rating: Competition

Question: To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of trends in the level of market competition in the consumer credit rating sector.

Answer: The government recognises the significant role of healthy competition in markets in giving consumers access to services and products of high quality, supporting business growth and the wider economy. Responsibility for investigating individual and market-wide competition concerns falls to the Competition Markets Authority (“CMA”), the UK’s independent competition authority. The government has ensured that the CMA has significant powers to investigate and act to ensure markets remain competitive, and consumers are protected from unfair or exploitative market practices.

Secondary information