Australia's Supermarket Regulator Cracks Down on Excessive Profit Margins

Australia's competition regulator has gained new powers to scrutinize the big supermarkets' financial dealings since July. This allows them to examine payment amounts to suppliers and customer charges, which can then be used to assess whether a supermarket has excessive profit margins.

If found guilty of having excessive profit margins, these supermarkets could face fines of up to A$10 million dollars.

Dr. Meg Elkins, an associate professor at Melbourne's R.M.I.T University and cultural and behavioural economist, spoke about the new powers and their implications for New Zealand in an interview with Guyon Espiner.