The competition watchdog is set to be grilled by some of the UK’s biggest business bodies tomorrow as it looks to shore up confidence following the ousting of its chair by ministers last week.

The Competition and Markets Authority (CMA), which has faced anger from both the government and private sector over what has been seen as an overly interventionist approach to regulation, will look to win round executives at an inaugural ‘Growth and Investment Council’ tomorrow morning.

First announced in January, the summit will bring together business groups including UK Finance, the London Stock Exchange, the City UK and the British Venture Capital Association, allowing them to quiz CMA executives on their plans for the year.

However, the event falls just one week after chair Marcus Bokkerink was forced out of his post over a conflict in strategy with Rachel Reeves and Keir Starmer. He has been replaced on an interim basis by ex-Amazon executive, Doug Gurr.

Reeves sent letters to 17 regulators on Christmas eve demanding ideas to unlock growth but is said to have been unimpressed by the CMA’s proposals. Speaking publicly at Davos, she said that Bokkerink had left due to a “different approach” to the government.

An agenda for tomorrow’s summit, seen by City AM, includes a “brainstorm” with attendees and a presentation of the regulator’s plans for the year. Gurr will also offer introductory remarks and a closing summary, in his first public outing in the role.

“I hope it will act as real engagement with industry, allowing us to review issues the CMA is grappling with and give them a business perspective on their analysis,” Bob Wigley, chair of UK Finance, who is attending tomorrow’s summit, told City AM. 

“We also need to ensure the CMA is focused on future competitive trends and technologies and the business arguments for facilitating innovation that ultimately benefits consumers and the UK economy.”

Wigley added that he was “impressed” the CMA had launched the new council.

Another person attending the meeting said they hope to see the CMA use the council to “showcase its commitment to the growth agenda and build on some of the recent public comments made by (chief executive) Sarah Cardell.”

The CMA has been under mounting pressure since November when Keir Starmer launched a public rebuke of its strategy in front of international investors. Speaking at the International Investment Summit, he said the body needed to “take[..] growth as seriously as this room does.”