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Speaker 1: Business groups have come up with a plan B for

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Speaker 1: the surcharge ban. They are proposing a cap, not a ban.

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Speaker 1: The surcharge on debit cards they say should bwo point

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Speaker 1: five percent, a cap on personal domestic credit cards one percent.

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Speaker 1: But will the government budge that's the question. Simon bridges

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Speaker 1: Auckland Business Chamber CEO Hey Simon, Hey morning, Ryan, good morning.

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Speaker 1: So why do you think a cap and not a ban?

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Speaker 2: Well, our looks in the ends would be clear. We

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Speaker 2: don't like this bill. I think it's going to create

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Speaker 2: unintended mess and you know, actually the an important thing

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Speaker 2: there is basically every submitted to Parliament and there are

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Speaker 2: a lot didn't like it either. They saw it as

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Speaker 2: well intentioned but unfair, not transparent. So we s me

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Speaker 2: he's basically had a terrible choice. Either have to suck

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Speaker 2: up the costs and you know they're working on tin

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Speaker 2: margins that's bad, or they smear it on everyone and

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Speaker 2: that's very unfair and opaque as well. So you know

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Speaker 2: why this because I think actually in the end it's

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Speaker 2: a workable compromise. It deals with the concern and it's

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Speaker 2: a legitimate concern of excessive surcharges because you've got this

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Speaker 2: cap that's not very high. On the other side of it, though,

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Speaker 2: it does mean there's you know, the retailers, hospo, tourism,

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Speaker 2: these various businesses operating onto margins can recoup some of

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Speaker 2: their cost and that's fear as well. So you know,

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Speaker 2: I think potentially it's a it's a it's a win

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Speaker 2: win sweet spot for the government, for business.

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Speaker 1: For consumers simon, if they go with the smear option. Like,

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Speaker 1: let's assume that the band goes ahead and businesses go

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Speaker 1: with the smere option. How much extra do we pay

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Speaker 1: in general prices? Do you reckon.

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Speaker 2: Well, loos It's very hard to say, but I mean,

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Speaker 2: I think it would be inflationary. I think in the

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Speaker 2: end what happens is very messy. My sense of it is,

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Speaker 2: you know, you have a bunch of businesses say, you know,

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Speaker 2: we're going to try rehout, and the big ones they say,

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Speaker 2: we're going to try hard to sort of sort of

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Speaker 2: absorb this, and but then another others that will think,

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Speaker 2: we know, we are going to smear it, and they's say,

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Speaker 2: you think about that, if you're paying cash that's on fear,

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Speaker 2: you're paying more when you shouldn't have if you're paying

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Speaker 2: f poss that's unfair because you're paying more and you

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Speaker 2: shouldn't have all to deal with the issue of kind

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Speaker 2: of you know, the tap on tip tap off cards

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Speaker 2: and the credit cards. We're actually you know, the focus

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Speaker 2: I've always thought should be on banks and that the

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Speaker 2: payment providers, your visas and your master cards. We're making

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Speaker 2: a lot of money from this.

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Speaker 1: Hey, I want to get your view on the RBI

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Speaker 1: and Z Yesterday they're saying there is a worry that

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Speaker 1: once the economy starts to pick up that businesses will

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Speaker 1: start hiking prices because you know, they've been holding off

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Speaker 1: because demand's been subdued, right, so you can't hike your prices.

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Speaker 1: And then as soon as we've got a bit of

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Speaker 1: money in our pockets they start hiking. That's inflationary. Do

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Speaker 1: you think that's going to happen.

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Speaker 2: I don't know. I wouldn't. I wouldn't say it's the

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Speaker 2: biggest issue, and I wouldn't say it's going to be

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Speaker 2: like dramatically palpable and inflationary. I think in the end,

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Speaker 2: you know, I've had the view. I appreciate it. It's

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Speaker 2: pop PEPs a business and political view rather than a

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Speaker 2: strictly economic one that you've got to pick your poison.

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Speaker 2: You know, what would you rather have lower interest rates? Inflation?

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Speaker 2: I think in this economy, nine out of ten say

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Speaker 2: actually a little bit of inflation, albeit you know they've

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Speaker 2: got to try and work hard to keep it in

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Speaker 2: the band. I mean, I look at next year and

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Speaker 2: I am I think realistically optimist and thinks are going

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Speaker 2: to slowly but surely get better. But I think anyone

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Speaker 2: looking for the Devana in twenty twenty six is prehaps

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Speaker 2: misplaced because reality of it is, you know, you just

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Speaker 2: think about some of the facts going on. We've got

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Speaker 2: an election. Close elections mean people stop spending and making

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Speaker 2: investment decisions for a while. I think the stock market

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Speaker 2: looks like it's very high. You know, people say to me,

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Speaker 2: who know, it's basically recessionary in America other than the

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Speaker 2: stock market which is so big, So any correction there

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Speaker 2: I think makes a big difference. So, you know, for heaven,

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Speaker 2: maybe we've got to wait till twenty twenty seven.

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Speaker 1: Simon always good to get view Simon Bridges All from

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Speaker 1: Chamber of CEO.

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Speaker 2: For more from early edition with Ryan Bridge, listen live

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Speaker 2: to News Talks. It'd be from five am weekdays, or

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