Source: New Zealand Parliament – Hansard
ANNA LORCK (Labour—Tukituki): Thank you, Mr Speaker. The Grocery Industry Competition Bill will trigger an unprecedented shake-up of the grocery sector and deliver New Zealanders a fairer deal at the checkout and help tackle the cost of living pressures. If there was ever a bill that everybody should be taking note of, it is this one. Every household, every family, everybody who goes to the supermarket knows when they go in there that there’s not enough competition and that prices are being driven up. I was absolutely astounded when I found out that a million dollars a day in extra profit is what the supermarket industry is making—that they don’t need to.
This bill will go through a four-month submission process. We are making some world-leading legislation through the backstop regulatory law we’re putting through, and the backstop regulator is something that’s going to be of real interest to New Zealanders, and I absolutely hope that lots of people take notice of this. It’s good to see this Government getting on with the work that needs to be done.
