Budget plea for watchdog

Marion Dakers
THE COMPETITION watchdog expects to exceed its budget again this year as it merges with parts of the Office of Fair Trading.

The Competition Commission spent £20.7m in the last financial year, up 28 per cent on 2011-12 and above its budget of £19.7m. It opened 22 new inquiries in the year.

The body will take on the OFT’s competition duties and become the Competition and Markets Authority next spring.