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Closed Regulations over the use of lowcost to adverise companies

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As what we consider to be 'low cost' companies and organisation are regularly increasing their fees and having a lot of hidden costs I propose that we regulate the term 'lowcost' for marketing purposes.
Typically we see the term 'Lowcost Airline' on branding, planes. posters etc when in reality there costs are no different to some of the major airlines.
It is misleading advertising to dupe in customers by promising low cost when this is not actually on offer.
The government needs to regulate the qualifications for using this term - ranking their average costs on like for like products and perhaps only the cheapest 10% can be branded as low cost.

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    This petition will stay open until 16 December 2011.