Reeves vows to ‘crack down’ on energy and fuel bosses exploiting Britons through ‘rip-off’ prices – UK politics live
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Chancellor Rachel Reeves has requested the UK's competition watchdog to investigate potential price gouging by energy and fuel companies amid rising oil prices due to the conflict in the Middle East. Reeves, along with Energy Secretary Ed Miliband, will meet with petrol retailers and energy suppliers to ensure fair pricing for consumers. The government is responding to concerns that companies are exploiting the crisis to increase profits, potentially worsening the cost of living crisis. An economist warned that the oil price shock could push the UK into recession. Meanwhile, the Conservative party is accusing the government of a cover-up related to Peter Mandelson's ambassador appointment, and new figures show the UK economy had a weak start to the year with flat GDP growth in January.
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