Overview

This bill aims to ban businesses from offering new customers lower prices than existing customers for the same goods or services. The intention is to create a fairer system where long-standing customers aren't disadvantaged.

Description

The Consumer Pricing Bill seeks to outlaw preferential pricing for new customers. The Secretary of State will create regulations to achieve this. These regulations will define the practice as an offense, punishable by fines. The bill mandates that these regulations must be approved by both Houses of Parliament before taking effect. The act applies to England, Wales, Scotland and Northern Ireland and comes into force upon its passing.

Government Spending

The bill doesn't directly specify government spending. However, implementing and enforcing the regulations will likely incur costs related to administration, investigation, and potential legal action.

Groups Affected

Businesses, particularly those offering goods and services with tiered pricing structures, will be significantly affected. They would need to adjust their pricing strategies to comply. Existing customers may benefit from fairer pricing, while new customers might see prices increase. Enforcement agencies will also be impacted, needing to investigate and prosecute breaches.

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