‘Every chance’ surcharge ban could fuel inflation as coffee prices riseBusinesses have already began hiking prices to make up the costs.2 min read

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Fresh fears are mounting that the government’s card surcharge ban could fuel inflation, after businesses began hiking prices to make up for the costs.One in six cafes have reportedly raised prices ...

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That’s now been taken away.”He argued the loss of that facility could put further pressure on businesses already struggling with cash flow.“That is something I haven’t seen in any of the modelling or any of the coverage to date. So, there is every chance that there’s upside risk to inflation,” he said.The ATO has confirmed card payments currently account for about 2.3 per cent of all tax payments.Bayliss said while only a small proportion of businesses used credit cards to pay tax, those businesses were more likely to be under financial pressure.“It is a small proportion but it is also typically those small businesses that are running against the red line that are really feeling the pressure of the strained consumption story and whatnot,” he said.He also rejected the suggestion businesses were primarily using credit cards to collect rewards points, arguing many are using them to “keep themselves afloat”.Coalition’s migration plan branded ‘ridiculous fantasy’ in fiery debate3 min read‘Day of misery’: Jewish leader condemns pro-Palestinian vigil2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}