NNDM8442 - Member Debates
Tabled on 02/01/2024To 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.