Prices: Coronavirus

Department for Business, Energy and Industrial Strategy written question – answered on 26th March 2020.

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Photo of Wes Streeting Wes Streeting Labour, Ilford North

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.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

Holding answer received on 24 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.

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