Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what the annual budget was for the (a) Competition and Markets Authority and (b) Financial Reporting Council in each year since 2005.

Since 2005, the remits of the Competition and Markets Authority (CMA), which became operational on 1 April 2014, and the Financial Reporting Council (FRC) have expanded in scope to undertake additional functions at the request of government.

The CMA's responsibilities in respect of competition enforcement and merger control have increased following the UK’s departure from the EU, as well as taking on new statutory functions and responsibilities under the UK Internal Market Act 2020, and the Digital Markets, Competition and Consumers Act 2024.

The FRC took on formal responsibility for actuarial oversight and standard-setting in 2006, for stewardship in 2009 following the Walker Review, as well as being designated as the competent authority for audit in 2016.