The Price Control Commission has not met since April 2016 and has now been made redundant, finance minister Bob Richards told the House of Assembly.

The panel was set up in 2011 to protect consumers from unwarranted price increases amid concerns families could not cope with the cost of living in Bermuda.

However, Mr Richards said the group’s job had now been overtaken by regulatory authorities and central government, adding: “There’s no need to have a separate body.”

The minister said: “After review of boards and committees, the Government considers the role of the commission is now redundant and will seek to repeal the legislation.”

He was responding to questions from Opposition leader David Burt.