I have an idea

9
Posted 19th MarEdited by:"spoo"
In a number of US states price gouging is illegal, when the state governor declares an emergency anyone selling essential items at excessive prices (defined as 10% to 25% higher than usual retail price) is subject to prosecution.

What's stopping the government quickly pushing similar legislation through parliament here? 99% of the public would support it and as a result none of the major parties would dare to vote against it.
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My local ice cream van was going about today with a sign up saying that he has stock of loo roll, carex & hand sanitizers for sale at stupid prices. Idiots taking advantage & really should be illegal
Was in SuperDrug earlier, Carex hand soap 500ml bottles £3.49 way above the normal price.
Edited by: "Ivor-NoReasonToCare" 19th Mar
The problem is, that this is how half of our economy works big companies buy everything up and then sell it to us when they think there'll get the highest price. They call it commodities, but really it's just a money making machine.
Think about all our utilities and oil/ petrol prices etc.
Edited by: "Dyslexic_Dog" 19th Mar
-Will-19/03/2020 17:13

My local ice cream van was going about today with a sign up saying that he …My local ice cream van was going about today with a sign up saying that he has stock of loo roll, carex & hand sanitizers for sale at stupid prices. Idiots taking advantage & really should be illegal


My local newsagent used to do 6 toilet rolls for $1.09 (price marked packet) and is now charging $3 for it
Dyslexic_Dog19/03/2020 18:18

The problem is, that this is how half of our economy works big companies …The problem is, that this is how half of our economy works big companies buy everything up and then sell it to us when they think there'll get the highest price. They call it commodities, but really it's just a money making machine.Think about all our utilities and oil/ petrol prices etc.


Not really the same thing. On the scale you're referring to the prices these products are sold at do vary depending on supply and demand but it's a more gradual process and the variance is a lot less, ie you don't see a 500% price increase in the space of a week.

Also the key part of this legislation in the US is it only applies if an emergency is declared, most of the time companies would be free to charge whatever they want. It's not legitimate retailers the legislation is designed to target but opportunists who hoover up all the stock they can see to re-sell at a grossly inflated price.
Edited by: "spoo" 19th Mar
spoo19/03/2020 18:24

Not really the same thing. On the scale you're referring to the prices …Not really the same thing. On the scale you're referring to the prices these products are sold at do vary depending on supply and demand but it's a more gradual process and the variance is a lot less, ie you don't see a 500% price increase in the space of a week. Also the key part of this legislation in the US is it only applies if an emergency is declared, most of the time companies would be free to charge whatever they want. It's not legitimate retailers the legislation is designed to target but opportunists who hoover up all the stock they can see to re-sell at a grossly inflated price.


Shop in Glasgow over from central station has hand gel £24.99 a bottle, that's the kinda pricing you mean right?
ITV news just now paracetamol/ milk formula etc inflated prices @ pharmacies
The thing is... just make a note of these shops doing it and then make sure to never shop there ever again.

The more people that do this the less likely the shop will last.
Ivor-NoReasonToCare19/03/2020 18:28

Shop in Glasgow over from central station has hand gel £24.99 a bottle, …Shop in Glasgow over from central station has hand gel £24.99 a bottle, that's the kinda pricing you mean right?


Yes

If this legislation can work in the US, the nation most synonymous with capitalism, it can work here too.
Edited by: "spoo" 19th Mar
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