The government is introducing rules to regulate savings clubs to avoid scandals like Farepak, where the business went bust in 2006, with over 116,000 customers losing £37m in savings.

On mergers, there are plans to reduce bureaucracy and keep the burden on smaller businesses to a minimum, by excluding mergers between small businesses – where each party’s UK turnover is less than £10m – from the Competition and Markets Authority’s (CMA) merger control altogether.

Other plans include making it illegal to pay someone to write or host a fake review, so people are not cheated by bogus ratings, and clearer rules for businesses to make it easier for consumers to opt out of subscriptions so they are not stuck paying for things they no longer want.