Greens propose fines for supermarkets charging 'excessive' prices

The Green Party wants supermarkets to face fines of up to $10 million for charging "unreasonable" prices for groceries, under a new election policy aimed at tackling "price gouging." The proposed Member's Bill would make it illegal for supermarkets to charge prices deemed as excessive compared with the cost of supplying a product, plus a reasonable profit margin. Party leader Chlöe Swarbrick said New Zealanders were paying too much at the checkout while supermarkets were "raking in excess profits of a million dollars a day". "While Luxon’s Government has talked tough, prices at the check-out have continued to rise," Swarbrick said. "Parliament can now actually do something meaningful in its final few weeks before the election by supporting this common-sense Bill, to reduce New Zealanders’ bills. "At the end of the day, surely, that’s why we’re all there in the first place."