- The Chancellor, Rachel Reeves, is set to announce measures to protect the public from "unfair price rises" in a statement to MPs on Tuesday.
- These plans, discussed during an emergency Cobra meeting, include an "anti-profiteering framework" to tackle companies exploiting the Middle East crisis.
- The government is considering bolstering the powers of the Competition and Markets Authority (CMA) to combat price gouging, following suggestions from Sir Keir Starmer.
- The initiative comes as fuel prices surge, with diesel reaching a three-year high and petrol prices also increasing significantly, impacting drivers ahead of Easter.
- Lord Richard Walker, the cost-of-living tsar, has advocated for a temporary profit cap to prevent energy and petrol retailers from making excessive profits during the crisis.
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