Commerce and Consumer Affairs Minister David Clark today revealed the Government's response to the Commerce Commission's market study into supermarkets, published in March this year. "Posturing" around prices recently by supermarkets showed they knew they were in the spotlight, but didn't fix the "systemic problem", he said. "If supermarkets do not strike good-faith wholesale deals with their competitors – our regulatory measures will make it happen for them. "Once established the 'watchdog' will help keep pressure on the grocery sector, by providing annual state-of-competition reviews to keep supermarkets honest, as opposed to the check-in after three years recommended by the Commission. Clark said he would engage with the industry ahead of introducing the Grocery Industry Competition Bill to the House this year.

Source: New Zealand Herald May 30, 2022 03:29 UTC