To ask His Majesty's Government what steps they are taking to consult with industry regulators to investigate firms that are exploiting inflation by increasing prices.
Answered on
6 July 2023
On 28 June 2023, the Chancellor of the Exchequer met with regulator Chief Executive Officers to discuss what action they are taking to mitigate the impacts of high inflation and ensure consumers are being treated fairly. The Chancellor of the Exchequer noted that regulators should work at pace to guarantee markets are working properly and that consumers benefit from falling wholesale prices. The regulators agreed to a set of actions to support consumers and will provide regular updates to His Majesty’s Treasury on their progress.
Answered by
Treasury