PARLIAMENTARY WRITTEN QUESTION
Companies: Coronavirus (4 June 2020)
Question Asked
To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans he has bring forward legislative proposals to ban companies from profiteering during the covid-19 outbreak.
Asked by:
Lee Anderson (Reform UK)
Asked by:
Lee Anderson (Reform UK)
Answer
The Government remains committed to tackling consumer rip-offs and bad business practices, including profiteering.
The Competition and Markets Authority (CMA) has written to firms suspected of profiteering to challenge unjustifiable price increases. To date, the CMA has written to 264 firms, accounting for over 3,100 complaints, about price rises for essential products.
The Government continues to monitor the extent of profiteering and will update the law if it is proportionate to do so.
Answered by:
Paul Scully (Conservative)
9 June 2020
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