Source: Cato Institute
by Ryan Bourne & Nathan Miller
“The UK’s latest plan to ‘put fans first’ is a sweeping ban on ticket resale above face value — a move Housing Minister Steve Reed says will end ‘the scandal of ticket touts.’ New legislation being drawn up by Labour will outlaw selling a ticket for even a pound above face value and cap service fees on resale platforms. … Capping prices below that which people are willing to pay creates a shortage in any official market. Musical artists have limited time to perform, and venues have a limited number of seats. Nothing Starmer does can change that. If his policy is to work for anything, it’ll only work to produce shortages, misallocations, and black markets given some people who missed out in the primary market and are willing to pay more to go will now not be able to make mutually beneficial trades with sellers.” (11/19/25)
https://www.cato.org/commentary/labour-poised-boost-black-market-expense-true-fans