Rachel Reeves has set out plans to guard against unfair price rises amid fears among the public over surging oil and fuel prices sparked by the Iran war. The Chancellor made a statement to MPs after laying out her plans to the Prime Minister and colleagues in an emergency Cobra meeting on Monday afternoon. This included an “anti-profiteering framework” to detect and crack down on companies exploiting the Middle East crisis and help the Competition and Markets Authority root out price gouging. It comes after the PM said he was looking at boosting the competition regulator’s powers, giving it “further teeth” to deal with profiteering. Catch up below....

Source: Daily Mirror March 24, 2026 17:18 UTC