Treasury has presented to Parliament a policy focusing on encouraging competition in an attempt to reduce bills for both families and firms. This forms part of Treasury’s overall productivity plan (see FReD 24 July). Treasury outlines its plans for opening up markets, ensuring the best deal for consumers, reducing regulation and fostering innovation on both a short-term and long-term basis. The plans include the proposed launch of the New Bank Start-Up Unit to make it easier for banks to enter the market, and measures to make it easier to switch accounts. (Source: Treasury Seeks Competition Boost to Reduce Bills)