Overview

This bill aims to ban businesses from offering lower prices to new customers than to existing customers. The goal is to create a fairer pricing system for all consumers, preventing businesses from incentivizing new customers at the expense of long-term loyalty.

Description

The Consumer Pricing Bill seeks to prohibit preferential pricing for new customers. The Secretary of State will create regulations outlining the specifics of this ban. These regulations will define what constitutes "preferential pricing," establish penalties (fines) for violations, and will need approval from both Houses of Parliament before coming into effect. The Act applies to England, Wales, Scotland, and Northern Ireland and will take effect immediately upon being passed.

Government Spending

The bill does not directly specify any government spending figures. The cost will depend on the resources required for the Secretary of State to create and enforce the regulations, including potential investigative and enforcement actions. No figures are provided in the bill text.

Groups Affected

• Businesses: Businesses offering different prices to new and existing customers will be directly affected. They may need to revise their pricing strategies and could face fines for non-compliance.
• Consumers: Existing customers could benefit from fairer pricing, while new customers might see prices increase.
• Government Agencies: Government agencies will be responsible for overseeing the implementation and enforcement of the regulations, potentially requiring increased resources.

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