John Small: Commerce Commission Chair on clampdown of cartel behaviour and bid rigging

A warning of both action and punishment from the Commerce Commission to those operating cartel like behaviour in public procurement. It estimates New Zealanders are being ripped off to the tune of 360-million dollars a year because of bid rigging.  Bid-rigging happens when there's an agreement among some, or all, the bidders about who should win a bid for contracts.  ComCom Chair John Small told Mike Hosking it's an enforcement priority He says if it's criminal, maximum penalties include 7 years imprisonments for individuals and 10 million dollar fines for companies. LISTEN ABOVESee omnystudio.com/listener for privacy information.