Clark said the clear message to supermarket retailers was to be prepared to change quickly to increase competition, and be ready for regulation.
“The duopoly needs to change, and we are preparing the necessary legislation to do that.”
The Commerce Commission’s report had found supermarkets were making $1 million a day in excess profits, and given recent cost of living increases the government could not delay further, he said.
The $365m in excess profits per year was among the commission’s most conservative estimates of profits, Clark said.
RNZ
Maybe if this Government hadn’t stopped butchers, fruit and vege shops, and all other small food suppliers from trading during the pandemic, supermarket profits might not have been so high.
Because the Government had shut down all outlets other than supermarkets, of course they would make more money.
Name one time that this Government’s actions did not result in the direct opposite effect to what they intended. Get prepared for a massive increase in supermarket prices.
Of course, rather than take responsibility for having caused the problem, this Government will just do what they are doing now ie use classic distraction techniques…find an enemy…attack them, denigrate them, win.
Read more here. Discuss it on The BFD.