Government Introduces Price Control Measures As OFT Receives “Numerous Complaints” About Alleged Profiteering

Further to the Office of Fair Trading’s (OFT) investigation into inflated prices for high demand goods as a result of the Coronavirus crisis, the OFT says it has received numerous complaints in respect of businesses allegedly profiteering from the sale of goods that are in short supply and key towards our mitigation of the spread of the virus.

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COVID-19: Chief Minister Announces Raft Of Measures To Assist Businesses And Employees

-  New scheme created: Business & Employee Assistance Terms (BEAT)

- Eligible businesses to be given “direct financial support” to be able to retain their staff and pay them their salaries at a fixed rate

- Self-employed and those on zero hours contracts also eligible for help

- Rate will be £1,155 per month for a full-time employee

- CM warns against abuse: “serious criminal penalties for providing false or erroneous information”

The Chief Minister has announced a series of measures and extensive fiscal support to help both businesses and employees who have been affected by the COVID-19 crisis.

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