Rachel Reeves sets out anti-profiteering measures, energy reforms and potential food tariff cuts
West Midlands households facing rising food and energy costs are set to benefit from a package of government measures announced by Chancellor Rachel Reeves this week.
The measures include a new anti-profiteering framework giving regulators, including the Competition and Markets Authority (CMA) powers to clamp down on price gouging, with time-limited targeted intervention available if companies are found to be exploiting the current crisis.
Hedging with nuclear
Reeves also announced legislation to accelerate nuclear energy delivery, with the government aiming to streamline approvals and remove regulatory delays to bring new domestic power online by the end of 2027.
Ministers say the move would reduce Britain’s exposure to volatile gas prices over the longer term.
Targeted reductions in food import tariffs are also being assessed, with the government saying cuts would focus on areas where families would see the most direct benefit at the till.
A government spokseprson said this builds on existing support measures already in place for households across the region, including an extension of the 5p fuel duty cut, an energy bill cap saving the average household £117 until the end of June, rising to £150 for vulnerable households, and £53 million set aside to help those most dependent on heating oil.
The CMA is also stepping up monitoring of petrol, diesel and heating oil prices, and has indicated it will take enforcement action where breaches of consumer law are identified.
Reeves said the measures were “focused on a single purpose: to protect working people and to protect the public finances.”
