Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Gas price drop means market study wastes $3m

The recent fall in petrol prices means the Government’s heavy-handed investigation into fuel companies will waste $1.5m of taxpayer money and will place similar compliance costs on the companies themselves, says ACT Leader David Seymour.

“Petrol prices have dropped by 30 cents a litre in some places as a result of a strong New Zealand dollar and increased U.S. supply of oil.

“But Commerce Minister Kris Faafoi and Commerce Commission Chairman Mark Berry confirmed today the $1.5m investigation will still go ahead.

“The Prime Minister has predetermined the outcome by saying consumers are being ‘fleeced’, showing market studies will be misused for political purposes.

“This investigation will cost fuel companies a similar amount of money to comply with.

“The Commerce Commission has admitted that a previous market study created two months’ full-time work for seven staff at one firm, with a government agency asking for 200,000 documents. Another investigation generated legal costs of $600,000 plus internal staff time for a second company.

“All up, the petrol market study will cost New Zealand around $3m – and for what?

“The real problem with New Zealand’s economy is a lack of scale to support more competitors. We live in a small, sparsely-populated country with fewer than five million people.

“New Zealand already has great difficulty with bureaucracy – too much red tape and regulation prevents us from raising productivity. Market studies are good politics but atrocious policy.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Whether We Should Be Betting Quite So Heavily On Astra Zeneca’s Covid Vaccine

According to this week’s Speech from the Throne, maintaining public safety during the pandemic will remain the government’s top priority. Next year will (hopefully) bring the rolling out of a free vaccination against Covid-19 to New Zealander. Currently, there are three possible vaccine contenders but the effectiveness of the vaccine will be only one of the factors determining which vaccine will pre-dominate. On the basis of the cost per dose, and the ease of manufacture, storage and distribution, the Astra Zeneca/Oxford University vaccine will almost certainly be the prime choice for New Zealand, at least initially... More>>


New Zealand Government: Speech From The Throne

It is my privilege to exercise the prerogative of Her Majesty the Queen and open the 53rd Parliament.
In the October election, New Zealanders elected a majority Government for the first time under our Mixed Member Proportional electoral system... More>>

Grant Robertson: Government To Review Housing Settings

New Zealand’s stronger-than-expected economic performance has flowed through to housing demand, so the Government will review housing settings to improve access to the market, the Finance Minister Grant Robertson announced today. “Our focus More>>


Law Commission: Recommends New DNA Laws For Criminal Investigations

Te Aka Matua o te Ture | Law Commission today released a report that recommends a new, comprehensive regime to control how DNA is obtained, used and retained for criminal investigations. The report has revealed significant gaps in the operation ... More>>


New Zealand Government: To Declare A Climate Emergency

The Government will declare a climate emergency next week, Climate Change Minister James Shaw said today. “We are in the midst of a climate crisis that will impact on nearly every aspect of our lives and the type of planet our children will inherit ... More>>


Economy: Crown Accounts Reflect Govt’s Careful Economic Management

The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance ... More>>


Green Party: Announce Portfolio Reshuffle With Talented And Energised Caucus Team

“The Green Party caucus offers a breadth of talent and energy to the Parliament this term. In ten MPs you have a small business owner, a human rights lawyer, an academic, a climate negotiator, a transport planner, and so much more”, Green Party ... More>>





InfoPages News Channels