The UK needs to tackle “bullying tactics by market leaders” and the other consequences of a lack of competition in the technology sector, according to a new report.

A six month review of the sector has concluded tech giants like Facebook and Google should face greater competition.

Philip Hammond will give his initial response to the report in his Spring Statement later on Wednesday.

The review was led by Barack Obama’s former economic advisor, Jason Furman.

The Harvard professor headed a panel exploring what impact the dominance of a small number of large tech firms is having on consumer choice and innovation.

TechUK, the body representing the UK tech industry said UK tech firms had created thousands of jobs and “embraced the principles of fair and open competition”.

‘Bullying tactics’

The

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