HM Treasury

Financial services

Competition in payment systems

The Cruickshank report found serious competition problems and inefficiencies in the market for the provision of payment services.  In his 2000 Budget Speech the Chancellor announced his intention to legislate to open up access to payment systems and to oversee access charges.  A consultation document "Competition in Payment Systems" setting out the Government's proposals was issued in December 2000.  Revised proposals, taking account of comments received during consultation were published in August 2001.

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