Green Party Proposes Bill to Ban Supermarket Price Gouging

The Green Party has introduced the Commerce (Excessive Pricing in Retail Grocery Industry) Amendment Bill to ban price gouging by New Zealand's supermarket duopoly. The proposed Member's Bill would make it illegal for grocery retailers to charge prices deemed excessive relative to the cost of supply plus a reasonable margin.

Under the legislation, the Commerce Commission would be authorized to request pricing records and apply to the courts to determine if breaches occurred. Penalties for violations would reach up to $10 million, 10 percent of turnover, or three times the commercial gain. This framework mirrors a similar ban that took effect in Australia on July 1.

Co-leader Chlöe Swarbrick urged the coalition government to support the measure before the upcoming election to lower the cost of living, claiming supermarkets earn excess profits of $1 million per day while checkout prices continue to rise. The bill, which MP Ricardo Menéndez March will place in the members' ballot, is part of a broader affordable kai election policy scheduled for full announcement next month.