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New Zealand antitrust regulator sees funding boost for grocery, fuel-industry monitoring

( May 18, 2023, 05:59 GMT | Official Statement) -- MLex Summary: New Zealand's antitrust regulator has been assigned almost NZ$30 million ($18.74 million) to 2027 to monitor and enforce competition in the grocery industry, following a market industry report by the regulator. A grocery commissioner will be appointed within the New Zealand Commerce Commission to lead this monitoring and enforcement effort. In a government budget announced today, the regulator was also assigned NZ$4 million over the same period to set up a regulatory regime under the Fuel Industry Act 2020 to allow certain wholesale fuel prices to be investigated and set by the regulator. The Commerce Commission has seen a reduction in its baseline funding for externally sourced litigation due to historic underspends.The full government budget paper is attached....

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