Jersey's competition watchdog has published a report laying out the way in which it prioritises its work.
The Prioritisation Principles, which have been established in line with best practice in other jurisdictions and revolve around a number of key questions and concepts, are:
Impact - What would be the likely direct effect on consumer or citizen welfare in the market or sector where the intervention takes place? What would be the likely indirect effect on consumer welfare? What would be the expected additional economic impact on efficiency, productivity, innovation and the wider economy?
Strategic significance - Does the work fit with the Authority’s strategy and with other objectives of the Authority? Is the Authority best placed to act? What would be the impact of the new work on the balance of the Authority’s current portfolio of work?
Risks- What is the likelihood of a successful outcome? Scale of detriment. Need for consistency. Risk management.
Resources - What are the resource implications of doing the work?
Tim Ringsdore, JCRA CEO, said: "The publication of our Prioritisation Principles demonstrates a new strategic approach for the Authority. In addition to providing clarity, it will ensure that our caseload is supported and prioritised efficiently and help achieve our objective of being ‘best in class' through a pragmatic and proportionate focus on the work we undertake. "We have consulted with a wide range of stakeholders and there has been a positive response to this new approach."
The Jersey Competition Regulatory Authority (JCRA) became a single entity in 2020. It previously formed part of the pan-island CICRA, but Jersey and Guernsey decided to go their separate ways in the first part of last year.
The full principles can be read here.
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