To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to penalise (a) businesses and (b) individuals engaged in (i) price gouging and (ii) profiteering during the covid-19 pandemic.
This answer is the replacement for a previous holding answer.
26 March 2020
The Government is clear that excessive price increases exploiting the covid-19 outbreak are unacceptable. We are speaking with retailers daily and the Competition and Markets Authority has established a taskforce to tackle the issue. It has approached traders already to stop excessive price increases. Consumers and businesses should report any issues directly to the taskforce online. The Government is monitoring this situation closely and will take further action if it is necessary.