National Assembly for Wales

To propose that the Senedd:

1. Recognises the growing evidence that the inflation crisis has been used as a cover for profiteering by big businesses in essential sectors including energy, insurance, and groceries.

2. Notes that:

a) the UK's biggest businesses have reported a 89 per cent increase in profits since the pandemic, whilst workers suffered their largest fall in disposable incomes since the second world war; and

b) the FCA recently reviewed 11 insurance firms and found that premiums were rising, including a 29 per cent hike in car insurance.  

3. Calls on the Welsh Government to:

a) carry out an assessment of the impact of profiteering on residents in Wales; and

b) meet with UK counterparts and urge them to take immediate action to tackle profiteering.