Reminder: Legislation Prohibiting Price Gouging
“The public and local retailers are reminded of the legislation prohibiting price gouging, particularly during times of national emergencies,” a Government spokesperson said.
“Price gouging is defined as ‘a seller increasing the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent.
“Usually this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after hurricanes and other natural disasters.’
“Under the Consumer Protection Act 1999, the penalty on summary conviction is 6 months in prison or a $10,000 fine or both, plus the Magistrate can also grant compensation.
“At a time when we all need to come together, it is important that all of us play our part in protecting our island from the health and economic impact of the coronavirus.”
Really? Then someone please go to Miles or Lindos on any given day of the year and do reconnaissance on their meat
Do we have a law protecting businesses and the public from government price gouging? Raisng prices (taxes) and asking for more money just because they want it.
They are the worst examples of price gouging. They take just because they want and spend what others have earned. Where’s our protection. TCD, duty at 25-35% foreign currency exchange fees property tax, pension tax, social insurance. Why do they feel they earned the right to take what others have risked and worked for!
Ya and a 20 volt drill cost $150.00 in US and in Bermuda cost $600!!!!!!!!!!
How do you blame Govt for that?
Agreed 1000%
Not a law but we do have a system.
The system is the election. If you are not happy with the way you are being governed, make it known by voting against that party’s policy’s and candidate, also make yourself heard when there are general meetings etc send letters to your local MP and if you really aren’t happy, make a protest.
Is it perfect, nope.
Ps I agree, with what you are stating this current government is attempting to tax us into stimulation, history seems to not be their strong area of expertise, or economics for that matter.
Price gouging = Bermuda retail.
tell u what, do what most bermudians do. Buy a 700 buck plane ticket, fly overseas for the “better” deal. Then fly home with it boasting abt how they saved money. Smh. Price gouging = bermuda retail? Sure, maybe in hamilton. Shop outside of town and u find better deals.
I’ve looked for weeks at Nampa Walmart for 91% alcohol. Here’s their brand. I can’t afford it!
So a bottle of Lysol shouldn’t cost $14.00?