Answer from Hansard

The Parliamentary Under-Secretary of State for Business and Trade (Kate Dearden)

For too long, fans have been at the mercy of greedy touts charging rip-off prices on the ticket resale market. That is why the Government have announced plans to make it illegal to resell a live events ticket for a profit. I know that my hon. Friend has campaigned for that over the years, for which I thank him. There will be tough penalties for non-compliance: resale platforms will face fines of up to 10% of their global turnover. That will protect genuine fans while preserving fair resale, saving fans an estimated £112 million each year.