According to analysis by the Competition and Market Authority (CMA), tickets sold on the resale market are typically marked up by more than 50%.

Investigations by Trading Standards have uncovered evidence of tickets being resold for up to six times their original cost.

Fans for music artists including Coldplay and Taylor Swift have complained that minutes after tickets to their concerts sold out, resale tickets were listed online for thousands of pounds.

The government says its consultation will seek views on capping resale prices on a range, from the original price to up to a 30% uplift.

Ministers are also proposing limiting the number of tickets that resellers can sell, to the maximum they are allowed to purchase in the original ticket sale.

They also want to create new legal obligations for ticket resale websites and apps to oversee the accuracy of information they provide to fans – with Trading Standards and the Competition and Marketing Authority responsible for enforcement.

Culture Secretary Lisa Nandy said: “We are taking action to strengthen consumer protections, stop fans getting ripped off and ensure money spent on tickets goes back into our incredible live events sector, instead of into the pockets of greedy touts.”

She told BBC Breakfast on Friday: “This has been going on for years, it’s been fleecing fans, and we say time is up for ticket touts, enough is enough.

“I believe that music belongs to fans, and that fans make the music industry what it is… Fans want to buy tickets but they can’t, because I don’t know anyone in this country that can afford £1,000… for a ticket.”

She added: “Touts are distorting the market because what they’re doing is taking those tickets away from fans, inflating the prices and selling them on, so they are denying the fans the price that the ticket company has set and the band want to sell the tickets for, and instead all of that money is pouring into [the touts’] pockets.”

Alongside the consultation, ministers have launched a call for evidence into dynamic pricing – which is says is often used to sell unsold tickets with lower prices but has meant some customers have been caught out paying higher prices for high-demand events.

“The call for evidence will seek views on how the ticketing system in the live events sector is working for fans and whether the current system provides sufficient protection from unfair practices,” the governments aid.

Last year, Oasis fans were asked to pay as much as £350 per ticket, around £200 more than had been advertised, due to demand.

Previously, Noel and Liam Gallagher said they had not been aware that dynamic pricing would be used for their UK stadium shows next summer – but acknowledged that the roll out of the tickets had not gone as planned.

Ticketmaster has said it does not set prices and that it is down to the “event organiser” who “has priced these tickets according to their market value”.