Latest / Best of Business / Dr Parmjeet Parmar: ACT proposes to keep credit card surcharges

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Dr Parmjeet Parmar: ACT proposes to keep credit card surcharges · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks be follow
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  Speaker 2: Acts looks like it might kill off the planned surcharge ban. Now,
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  Speaker 2: the plan was to ban retailers from putting a surcharge
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  Speaker 2: on contactless credit card purchases so that they use to
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  Speaker 2: cover the fees that they pay. But Act is written
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  Speaker 2: to National proposing to actually allow businesses to continue with
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  Speaker 2: the search charges as long as they give customers an
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  Speaker 2: alternative way to pay, like cash or fposs ax, PALMG
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  Speaker 2: parmas with us. Now, Hi Palmeg Hiada. Is this a
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  Speaker 2: proposal that you may or may not go with or
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  Speaker 2: is this a line in the sand and this is
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  Speaker 2: what you want?
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  Speaker 3: So the bill is going through the Select Committee process.
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  Speaker 3: So I have put this idea to the Select Committee
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  Speaker 3: at the start of the process. And as you know
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  Speaker 3: that many bills have been adjusted in the Select committity process.
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  Speaker 3: So I'll be really looking forward to seeing what submitters
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  Speaker 3: have to say on this amendment. Oh that I have propose.
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  Speaker 2: If National says to yet not, we're not going to
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  Speaker 2: do that. It's a ban on everything all surcharges. Will
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  Speaker 2: you support that?
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  Speaker 3: So this bill is a government policy and actors committed
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  Speaker 3: to supporting a government position, but that doesn't mean that
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  Speaker 3: we can't put our ideas forward. So I have done
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  Speaker 3: that and now it's in the hands of the Select Committee.
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  Speaker 2: Have you heard back from Scott Simpson on this, not
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  Speaker 2: yet directly. Are you convinced of the merits of banning
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  Speaker 2: all surcharges?
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  Speaker 3: So what I've heard from businesses is this that it
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  Speaker 3: is going to impose a huge amount of cost on businesses.
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  Speaker 3: Obviously that depends on businesses turnover, and that's where I
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  Speaker 3: have come up with this position because my position is
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  Speaker 3: about choice and cost. It's about saving Different modes of
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  Speaker 3: payment are also stopping inflation because if businesses can't search
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  Speaker 3: charge for PAYWAF, they will build the cost of that
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  Speaker 3: in their products and then everybody who is using other
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  Speaker 3: modes of payment will also end up paying the cost
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  Speaker 3: towards that, and that will result in higher prices for everybody.
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  Speaker 3: And I want to stop that.
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  Speaker 2: So that's the idea, be okay, and you I agree
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  Speaker 2: with you on everything you just said, So how can
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  Speaker 2: you support the search then?
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  Speaker 3: So what I'm saying is that if a business is
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  Speaker 3: not providing any other choice, then the band should be applicate.
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  Speaker 2: Yes, I know, but I asked, shouldn't for if they
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  Speaker 2: don't accept this proposal, will you still support the surcharge banning?
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  Speaker 2: You said yes, but how can you if you know
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  Speaker 2: that it's going to impose costs on businesses?
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  Speaker 3: It is going to and as I said, the bill
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  Speaker 3: is government policy and Actors committed to supporting the government position.
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  Speaker 3: But as I said, many legislations have been changed in
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  Speaker 3: the Select Committy process and that's what I'm looking forward
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  Speaker 3: to this bill.
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  Speaker 2: Beings for you. Okay, So alternative theory, have you given
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  Speaker 2: Scott Simpson a way out of this little conundrum that
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  Speaker 2: he's found himself in.
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  Speaker 3: So I have put my idea forward to the Select
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  Speaker 3: Committee because now the bill is in the Select Committee,
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  Speaker 3: not with the Minister, so it will be reported back
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  Speaker 3: and we'll have to see what form it is reported back.
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  Speaker 1: Okay.
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  Speaker 2: Palm Jed appreciated. Pumjet Palmer ACT Party Commerce and Consumer
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  Speaker 2: Fair spokesperson. I have a suspicion, I just think just
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  Speaker 2: alternative theory here that maybe ACT has just given Scott
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  Speaker 2: Simpson a way out of a terrible policy, because at
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  Speaker 2: the moment, if he imposes this policy, he is going
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  Speaker 2: to be getting a lot of retailers offside just before
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  Speaker 2: the election, so it might have given him a little
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  Speaker 2: out here quarter past. Helen, I've got to get you
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  Speaker 2: across as a terrible sports clash that's happened. I'm going
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  Speaker 2: to run you through that. Just a bit of an
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  Speaker 2: update really quickly on the Tom Phillips case. The mother
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  Speaker 2: of the three children has now joined the legal proceeding
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  Speaker 2: proceedings to keep that information you know that we all
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  Speaker 2: know about secret. It was originally brought by Tom Phillips's mother,
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  Speaker 2: with Linda Clark as her lawyer. Now the mother of
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  Speaker 2: the three children has joined different lawyer, Michael Bott knows
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  Speaker 2: his way around a courtroom, so he'll be good. The
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  Speaker 2: information still remains suppressed. This is the third time the
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  Speaker 2: judge has suppressed it. She says, this is Justice Cull
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  Speaker 2: that she's going to release a minute based on her
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  Speaker 2: decision today, which I think we will all be pleased
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  Speaker 2: to understand what's going on here. But apparently there is
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  Speaker 2: no end inside here and this suppression may go on
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  Speaker 2: for a very long time.
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