News

CMA urges government to introduce emergency laws to prevent price hikes

CMA urges government to introduce emergency laws to prevent price hikes

The Competition and Markets Authority (CMA) has called on the government to introduce emergency laws to stop retailers from hiking prices.

The CMA has written to hundreds of retailers who have been charging inflated prices for certain products, including hand sanitiser. According to recent research, between 10 March and 19 April the CMA received more than 20,000 coronavirus-related complaints. The prices complained about had risen by 130% on average. Prices for hand sanitiser had risen by an average of 367%.

The Authority is calling for emergency laws; time-limited legislation to be introduced to prevent retailers from increasing prices.

The CMA stated: ‘Our COVID-19 taskforce continues to scrutinise reports of potentially harmful sales practices, including inflated price rises.

‘The vast majority of businesses are doing the right thing, but where there is evidence that firms may have broken the law, we’ll be using our existing powers to the maximum possible extent.’

Commenting on the matter, a spokesperson for the government’s Department for Business, Innovation and Skills said: ‘The CMA deals directly with firms to address any complaints and we continue to keep the issue under review.’

 

If coronavirus is impacting your business operations, we are here to help. Contact us today.

Quick Quote

A simple, hassle free way to request a quote from AP Robinson & Co.
Simply fill in the form with your contact information and a brief description of the work you want carried out and we’ll then contact you directly - either by email, text message or a phone call for a friendly and informal chat about your requirements.

Get Quick Quote
laptop image