Consumers cheer as watchdogs are let off the leash

A PACK of snarling industry and financial watchdogs were off the leash today with the Competition and Markets Authority, Ofcom, the Office of Rail and Road, and the Financial Conduct Authority all issuing threats to investigate or regulate.

- Jonathan Prynn

It is almost as if they wanted to empty their in-trays ahead of a looming deadline. But if the desk-clearing means that regulators' minds can now start turning to mince pies and crackers they did not bring much festive for some of the companies likely to be affected.

Ofcom's threat to ban confusing mid-contract, inflation-linked tariff hikes - long overdue knocked around £1 billion off the value of the telecom sector today.