A coalition representing Britain’s largest banks has come out against government plans to impose limits on ticket resale prices, warning that such caps will almost certainly drive more consumers toward scams and unregulated marketplaces.
In a submission to the UK government’s ongoing consultation on ticketing reform, UK Finance — whose members include Lloyds, NatWest, HSBC, and Barclays — cautioned that a price ceiling could force secondary ticketing activity off regulated platforms such as Viagogo and onto social media sites like Facebook Marketplace, where consumer protections are weaker.
The group argued that while marketplaces like Viagogo offer money-back guarantees on invalid tickets, social media sellers typically do not — leaving fans more likely to seek chargebacks through their banks under Payment Systems Regulator rules.
The warning adds a new wrinkle to the debate surrounding Prime Minister Keir Starmer’s pledge to cap resale markups at between 0% and 30% above face value, a move his government says would “put fans back at the heart of live events.” The plan, first floated in January, would limit how much a £100 ticket could legally be resold for — capping potential resale at £130.
Proponents, including the music industry-backed anti-resale organization FanFair Alliance, say such limits would finally curb profiteering and industrial-scale touting. But opponents argue that restrictions could choke legitimate resale and push transactions underground.
UK Finance cited research by Bradshaw Advisory claiming similar price caps in Ireland and Australia had “failed to protect consumers or lead to good outcomes.”
READ MORE: Study Warns UK Ticket Price Caps Could Fuel Fraud; Cost Economy 183 Million
FanFair Alliance campaign manager Adam Webb dismissed those findings as “misguided,” saying UK Finance was relying on “self-interested research” from “unregulated offshore websites who promote industrial-scale ticket touting and exploit British audiences.”
Viagogo and StubHub have both been lobbying against the proposed cap, which could significantly impact their business models by restricting resale profit margins and limiting the number of tickets individuals can list.
UK Finance suggested that if the cap proceeds, ministers should also impose new safeguards on social media platforms — including “validation checks for ticket sales” and clear warnings that selling tickets on such sites carries high risk.
A government spokesperson said officials are “considering the evidence” submitted through the consultation and will “set out our plans soon.”
If implemented, the UK’s proposed cap would be one of the strictest resale regulations in Europe, potentially reshaping the country’s secondary ticketing landscape and reviving old arguments over whether restrictions protect fans — or simply move bad behavior further into the shadows.
