philip hammond asks competition watchdog to probe digital advertising market as politicians consider new code of conduct to end dominance of 'big tech' firms including google and facebook - digital advertising board

Prime Minister Philip Hammond today called for an independent review of the impact of big tech companies, including Google and Facebook, to immediately review the digital advertising industry.
In his spring speech he asked the competition and marketing authority to investigate online advertising revenue as soon as possible, adding that, the UK will be the place for the digital giant to "pay the share of fares" and the public to "be protected from online.
The balance of digital advertising has been criticized for months.
It is estimated that the market value of the UK in 2017 was 11.
Google and Facebook have a total revenue of about 55 billion.
Earlier, Hammond commissioned Jason Furman, a Harvard professor and former chief economic adviser to Barack Obama, to lead a report, he suggested that the use of numbers for individual consumers include the ability to transfer images and data between competing applications.
The report also urged the largest companies to agree to the new code of conduct to promote competition and avoid ending monopolies by breaking them.
It is not clear which companies will be considered "technology giants" outside the six major companies"
Google, Apple, Facebook, Microsoft, Netflix and Amazon
But it will focus on social media and converged websites. It is understood that an independent regulatory body will be set up to regulate the code and have the right to enforce rules such as fines, although specific penalties have not yet been decided.
Professor Furman's report was released a month after the UK's keencross review, which also recommended its own code of conduct, to prevent technology companies from taking too much share of advertising revenue.
One of the key findings is that Mr Hammond will now consider these proposals and respond this summer.
Earlier, criticism of major technology platforms continued for months, claiming that they had too much power over advertisers and abused personal data, insufficient efforts have been made to prevent exploitation of children and to disseminate misinformation affecting political movements.
Recently, people have called for the dissolution of Google to "create a competitive environment for search engines ", people have also raised concerns about Apple and Amazon from their dominance of the market to the amount they pay for the company's taxes.
But Professor foreman did not call for the company to be split into independent companies, claiming it would make things "more uncertain and potentially risky ".
The review urged the Chancellor to support these proposals through legislation to ensure compliance with the new rules and set an example for the rest of the world.
Professor Furman said: "These policies will bring great benefits to UK consumers, businesses trying to start and scale up in the UK, and major digital companies, and increase predictability.
"Effective implementation in the UK can also serve as a model for many governments around the world to address these issues.
He added: "The digital industry has created huge benefits, but they come at the expense of the growing dominance of some companies that limit competition, consumer choice and innovation.
It is said that this is inevitable and even desirable.
I think Britain can do better.
Philip Hammond, the Chancellor, believes that there is a better way than to maintain the status quo.
"My group is outlining a balanced proposal to give people more control over their data, give small businesses more access and prosperity, and create for big digital companies
These proposals will boost the growth of UK tech start-ups
Ups and innovations that offer consumers more choice and protection.
The review also recommends that the merger rules be amended so that the Competition and Market Authority (CMA)
More capable of preventing mergers that are considered likely to compromise future competition or consumer choice.
In addition, it calls for the introduction of power to force large companies to be open to small companies by providing access to certain data, which does not affect user privacy.
If the proposal is approved, it says, it can help boost the economy by encouraging the development of new platforms and well-known brands.
In response, Hammond said: "Britain is at the forefront of the world in embracing technology and providing opportunities for people.
Competition is essential to ensure that the market is in the interests of consumers, but we know that some tech giants are still accumulating too much power to prevent small businesses from entering the market.
The work of Jason Furman and the panel of experts is invaluable in ensuring that we are at the forefront of providing a competitive digital market.
Before responding later this year, he said, I will look closely at the suggestions made by the panel on how the government will implement the necessary changes to ensure that our digital market is competitive, consumers get the level of choice they deserve.
MP Damian Collins, chairman of the House of Commons Digital, cultural, media and sports (DCMS)
The special committee also supports calls for more regulation.
I welcome Professor Foreman and his panel of experts to publish a report on unlocking the digital contest.
Its central conclusion is that the digital market will only work well if the digital market is strongly supported
He said that competition policy confirmed some findings from my commission's false information and "fake news" report released on February.
It is clear that the regulation of online platforms requires strong ethics and I agree with the report's conclusion that the proposed code of conduct for competition complements the Code of Ethics recommended by my committee.
We welcome the measures put forward in response to the issue of anti-corruption.
Competitive behavior and bullying strategies of market leaders.
This is a critical moment before the government starts to regulate to control the power of technology companies.
I agree with this report that common data standards should be developed, including processing of inferred data.
"My committee is concerned about the processing of inferred data by big tech companies like Facebook, and the government has to take action to protect consumers.
The report rightly emphasizes the opportunity for the UK to lead by example in the field of digital regulation.
"Britain has a history of fair and sound regulation, with Europe's largest technology industry, and a unique position in creating the world --
Leading standards in the digital field.
"Through the establishment of the International Council, it has shown that other countries are ready to work with us to address the enormous challenges posed by social media platforms.
It is expected that a government white paper on cyber harm will be released later this month, which may include some suggestions for new regulation of social media platforms and Internet companies.
Professor Furman's report came a month after keencross reviewed the sustainability of the British media and whether the tech giants were too dominant in advertising revenue.
The review, led by former journalist and scholar Frances Cairncross, also said that news aggregators, including Google and Facebook, have an obligation to provide users with high-quality news to improve content
The power of online platforms such as Google and Facebook accounts for most of online advertising revenue, making it difficult for traditional publishers such as newspapers to compete effectively.
To address this issue, the Cairncross comments also suggest the creation of a new code of conduct to "compete fairly ".
The code will be supervised by regulators to ensure that the platform does not impose its own advertising software on news publishers and makes the company more transparent about the share of online advertising revenue, and promised to work together on how best to show news on the Internet.
The review concluded that government intervention may be the only solution after evidence of "market failure" in public interest news supply.
It also recommends the creation of a new public interest journalism institute along the lines of the Art Council, combining public and private finance into industries that are considered most worthy of support.
Culture Minister Jeremy Wright, who welcomed the results of the review, said that while some results could be acted upon immediately, other results needed to be considered further carefully with interested parties on the way forward