Consultancy guru drafted in to tackle rising petrol prices

KWASI KWARTENG has appointed a new chairman of the competition regulator to tackle rip-off petrol stations as fuel prices hit new heights.

The Business Secretary has appointed Marcus Bokkerink, a former partner at Boston Consulting Group, to lead the board of the Competition and Markets Authority (CMA) nearly two years after its last permanent chairman resigned.

The appointment comes after Boris Johnson declared war on petrol stations that fail to pass on the Government’s fuel duty cut, pledging to name and shame those that refuse to lower prices.

Earlier this week, The Daily Telegraph revealed the Prime Minister had expressed fury that the 5p-a-litre cut announced in March was failing to materialise at the pumps. The CMA said it was “closely monitoring the situation”.

Petrol prices are among a raft of issues Mr Bokkerink will have to contend with as he takes the reins of the watchdog.

The CMA has an expanded remit post-brexit and will have to curtail the power of big technology firms such as Facebook and Google.

It could also face major decisions down the line about whether to allow mergers between British telecoms companies in an effort to boost infrastructure investment, and even a potential tie-up between Channel 4 and ITV.

The CMA has been without a permanent chairman since Lord Tyrie, a former Conservative MP and chairman of the Treasury select committee, resigned in frustration in June 2020.

Mr Kwarteng said: “Marcus will make an excellent addition to the CMA team, bolstering its work to promote competition and innovation to help grow our economy and ensure the best deals for consumers.”