The Government says it is acting on a lack of competition in the supermarket sector and warned it to change “at pace” or face regulation.
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.
The Commission estimated Countdown and Foodstuffs were making excess profits of about $430 million a year – more than $1 million a day.
As the political battle over the cost of living crisis has raged on, the Government said that it reserved to go further than the Commerce Commission’s recommendations if it saw the need.
What a disappointing nothing that has been the outcome of Labour’s spineless attempt to smash the Supermarket Duopoly.
Rather than be radical and seizing 30% of the Duopoly to force market competition, Labour will take the watered down Commerce Commission recommendations and implement 12 of them.
This will do sweet fuck all and it’s just another fucking example of this spineless, gutless, do nothing Government talking. huge game and then not even bothering to turn up to play.
Right now, Russia and the Ukrainian conflict is impacting everything in terms of food and materials price inflation on top of China’s shut down thanks to their zero tolerance of Covid policy. That is going to see prices explode and I’ve argued inflation will hit double digits by December.
Being told some regulatory tweaks to the Duopoly power of the greedy supermarkets is all Labour have managed while you go hungry and cold will be another example of big promises and empty delivery when people are at their most vulnerable.
Labour are a joke looking for a punchline. This could have been their saving grace, it’s another hollow nothing.
It’s almost like they don’t even want to win the next election.
If you want something done right, lock David Clark up first.
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