Labour’s Price Gouging Plan Ignores the Cause

Labour’s plan to outlaw excessive prices risks regulating the symptom instead of fixing the lack of competition causing it, says Taxpayers’ Union spokesman Rhys Hurley:

“Labour is right that New Zealand has serious competition problems. But if businesses can sustain excessive prices because competitors aren’t challenging them, the answer is more competitors, not more red tape.”

“Rather than turning the Commerce Commission into a pricing referee, politicians should be tearing down the regulatory barriers that protect incumbents and make it harder for new businesses to compete.”