MPs say tech firms need to be reined in or British consumers could be put at risk

• MPs warn consumers ‘at risk’ if watchdog unable to hold tech giants to account
• Proposals to rein in social media and search engines trailed in Queen’s Speech
• Business, energy and industrial strategy committee said bill should be published
• Chair Darren Jones said the Bill had ‘wide support and should be prioritised’

Consumers are ‘at risk’ if a digital watchdog is not given the power it needs to hold tech giants to account, MPs have warned.

Proposals for key legislation to rein in social media firms and search engines were trailed in the Queen’s Speech in May. However the draft Bill is yet to be published.

Yesterday an influential parliamentary committee urged the Government to publish the Digital Markets Competition and Consumer Bill ‘without delay’.

The draft legislation will bring in tough new laws to stop online giants exploiting consumers and rivals – including more protection from online scams.

Business, energy and industrial strategy committee chairman Darren Jones (pictured) said the Digital Markets Competition and Consumer Bill had ‘wide support’

New Prime Minister Rishi Sunak (pictured) previously promised to prioritise the Bill

The Bill will also empower a new regulator, the Digital Markets Unit, to tackle tech giants’ dominance in sectors such as digital advertising – which currently poses an existential risk to high-quality journalism.

The latest report by the business, energy and industrial strategy committee warned that ‘consumers and others are at risk’ until the draft Bill is published.

It also pointed to ‘strong evidence’ of tech giants ‘abusing’ their dominance’.

Committee chairman Darren Jones said the Bill had ‘wide support and should be prioritised,’ adding that it is an ‘essential stepping stone’ for economic growth.

New Prime Minister Rishi Sunak previously promised to prioritise the Bill.

In the leadership race this summer, he said he supported the ‘vital’ newspaper industry and the need for ‘functioning’ markets.

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