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New Zealand: Lawmakers call for Commerce Commission building probe

By  |  November 11, 2014

Labour lawmakers slammed the Commerce Commission this week for its inaction in the building supplies industry, according to reports.

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    The New Zealand party’s Housing spokesperson Phil Twyford is calling for the watchdog to investigate the market he says is controlled by a monopoly.

    ”Fletccher’s subsidiary Winstone Wallboard has 94 percent of the market,” Twyford said, noting that competitor Knauf Plasterboard is considering exiting New Zealand after struggling to establish itself as a viable competitor.

    Twyford also noted higher building supply costs compared with Australia.

    ”The Government has been talking a good game but has totally failed to tackle the market monopoly,” he said, adding that the Commission must immediately probe the matter.

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