The UK government has put ticket touts on notice, announcing that a consultation on secondary sales will be launched in the autumn.

In a video pegged to Taylor Swift’s Eras Tour UK dates, the business secretary, Jonathan Reynolds, confirmed plans to introduce consumer protections on ticket resales to prevent people being ripped off.

For years the Guardian has reported on touts charging huge fees for tickets they have snapped up and immediately put on to secondary ticketing websites, including £85 tickets to see Adele being marketed for £24,000.

As well as legitimate tickets being resold at a hefty markup, fans have been caught out by scams involving non-existent tickets. Recently, Lloyds Bank estimated that £1m had been lost just on fake tickets for the UK dates of Swift’s Eras tour.

Last year, the then Conservative government rejected plans for a crackdown on the sector, causing a campaign group backed by Ed Sheeran, PJ Harvey and the Arctic Monkeys to warn that fans would continue to face rampant rip-offs by touts on resale sites.

Details of the consultation, which will be launched in October or November, have not been published, but Reynolds said it would include proposals for protections aiming to safeguard consumers, businesses, artists and sportspeople.

In the video, he showed off his knowledge of Swift’s back catalogue, if not proficiency at puns, warning touts: “Going to a gig should be a love story, not being ripped off by touts that we know all too well. So many are used to just having to shake it off and accept a blank space in our finances at the mercy of big profits for the touts. But this is our song, it’s time to be fearless.”

He added: “My message for the touts: I knew you were trouble now look what you made me do.”