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 companies from incentivizing new customers at the expense of loyal ones.

Description

The Consumer Pricing Bill seeks to prohibit preferential pricing for new customers. The Secretary of State will create regulations to enforce this ban, covering both goods and services. These regulations will define offenses and associated fines. The regulations must be approved by both Houses of Parliament before they can come into effect. The Act applies to England, Wales, Scotland, and Northern Ireland and will come into force immediately upon passage.

Government Spending

The bill does not specify any direct government spending. However, there will be indirect costs associated with creating and enforcing the regulations, including staffing and administrative costs within government agencies.

Groups Affected

This bill will primarily impact businesses that currently offer different prices to new and existing customers. This could lead to increased costs for new customers if businesses choose to raise their prices to match those charged to existing customers. Existing customers might see prices increase if businesses pass on any increased costs of not being able to attract new customers through discounts, while businesses may be affected negatively if they see less profits and struggle to survive in a more competitive market. Consumers will potentially see more consistent prices. Government agencies will be responsible for enforcing the regulations.

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