In response to the fuel price spike, Prime Minister Jacinda Ardern has called for a push through of a law that allows the Commerce Commission to check companies’ books. This was done to make sure fuel companies are operating effectively, but the law may impact other industries.
“Other areas around the cost of living have been raised, particularly when New Zealanders compare what happens in Australia,” Arden told Stuff. She stated that Kiwis are wondering why they’re seeing a marked increase in other areas. “I wouldn’t be surprised if we see a nomination in other areas like [supermarkets],” said Ardern.
The new law would mean an industry facing public scrutiny could be nominated to Commerce Minister Kris Faafoi, who would then consult with the sector.
Greg Harford of Retail NZ said he didn’t believe there was a problem to solve. “You’ve got the two major supermarket chains operating four brands between them, there’s a lot of niche grocery players… there’s strong competition between those big companies and everyone else who’s playing in the market.”