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Six areas identified for potential consumer savings beyond recent crackdowns

Following recent consumer protection measures, a new analysis suggests six additional areas where the government could act to help UK consumers save money and reduce daily frustrations.

  • Potential areas for consumer savings include banning booking fees on tickets and preventing direct debit hikes when energy accounts are in credit.
  • Other suggestions involve tackling 'shrinkflation' and requiring companies to display phone numbers on their homepages.
  • Improving parking regulations and ensuring insurers offer existing customers the best deals upfront are also highlighted.

New suggestions have emerged for the government to help UK consumers save money and alleviate daily frustrations, building on recent measures to ban fake discounts and simplify subscription cancellations. These proposals focus on six key areas that could impact household finances.

One area highlighted is the potential ban on booking fees for event tickets. While consumer protection laws have made fees clearer, the analysis questions their justification when there is no choice in how tickets are received, unlike traditional retail transactions.

Another suggestion addresses energy bills, proposing a stop to direct debit increases when customers are already in credit. Ofgem data shows providers held £3.2bn of customers' money in the year to March, with the average household £135 in credit. The proposal suggests banning providers from raising direct debits by more than the price change or when a significant surplus exists.

The analysis also points to 'shrinkflation', where product sizes decrease while prices remain the same or increase. It suggests requiring a 'new pack size' message on products, similar to rules in France and Austria, to ensure consumers are aware of changes.

Further proposals include mandating companies to display a phone number on their homepage to improve customer service access, bringing forward and enforcing a code of practice to improve parking regulations, and requiring insurers to offer existing customers the best deals upfront without the need for negotiation.

Why this matters: These suggestions aim to address common consumer frustrations and potentially reduce household expenditure in various sectors, from entertainment to essential services.

What this means for you: If implemented, these changes could mean you pay less in booking fees, avoid unnecessary energy direct debit increases, are better informed about product size changes, find it easier to contact companies, face fewer parking issues, and potentially get better insurance deals without needing to shop around extensively.

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