Support For MP's Ticket Resale Cap Plan
Promoter Melvin Benn backs 10% resale limit
The Reading & Leeds Festival boss has backed a proposal put forward by Labour MP Sharon Hodgson that would legally cap the amount of profit that can be made on resale tickets to 10%.
In an interview with the BBC Benn said "I've been asking for this for many years. It's the sort of bill that's been operational in New York State and Australia. It works. We've seen that it works."
He added: "People will still try to set up illegal websites but what it would do is give the public an absolute knowledge that if they're trying to sell at more than that percentage, it's almost certainly dodgy and illegal."
The NME reports that Joe Cohen, CEO of ticketing resale website Seatwave, has criticised the proposal.
"When you put this idea into practice it falls down and turns into rubbish," he said. "There's no place on the planet where a cap works."
He claimed that if the proposal led to a law it would mean companies such as his would be forced to leave the UK.
The proposal goes to Parliament in May. You can read the bill HERE