The Southland veggie grower using lasers
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RNZ News
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Ban on card payment surcharges: Cafe owner says they'll have to pass on cost
The government plans to ban surcharges on card payments for in-person payments. Photo: 123rf Prices may need to rise at restaurants and cafes due to a ban on credit card surcharges, the sector is warning. The government plans to ban surcharges on card payments for in-person payments. Legislation is expected to be introduced to Parliament by the end of the year, with the ban to kick into effect no later than May 2026. Richard Corney, founder of Flight Coffee and The Hangar cafe, said he would have to pass the cost on to consumers somehow. "Our cafe, The Hangar, paid $17,000 in merchant fees in 2023 for the privilege of using PayWave and other associated services," Corney said. "Yes, it speeds up service and there's value using it, but the solution isn't banning vendors from on charging this expense. What next? They ban cafes from charging a surcharge for opening on a public holiday? Better yet, and while they're putting restrictions on the banks, why not ban the banks from charging for this service outright and save small businesses real money by not having to fund this expense." He said cafes would operate on profit to revenue ratios of less than five percent. "Banks do not - and they're also institutionally paramount functions of our society," Corney said. He said $17,000 was a significant portion of after-tax profit "I absolutely have to on-charge any associated expense with regard to this." The policy seemed out of touch, he said. Restaurant Association chief executive Marisa Bidois agreed it would be tough on hospitality businesses operating on tight margins. "These surcharges are genuine costs that businesses must pay. Without surcharges, businesses will need to absorb these fees, further impacting already small margins." She said the announcement had come as a surprise. "We've actively engaged with the Government to outline the financial pressures faced by hospitality businesses due to bank-imposed fees," Bidois said. "While we welcome consumer-focused changes, we are concerned about the lack of consultation on this particular announcement." She said businesses would probably need to adjust their pries. "Removing the ability to surcharge could mean businesses factoring these costs into their overall pricing, potentially leading to increased costs for diners." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
2 hours ago
- RNZ News
Carpet maker Bremworth rebuilding Napier yarn plant
Carpet maker Bremworth is rebuilding its Napier yarn plant that was destroyed in Cyclone Gabrielle, which means 40 more jobs will be on offer. Before the flood it employed about 150 staff at the Napier factory, but most of them lost their jobs. For the last couple of years Bremworth has been importing yarn to bolster supplies from its Whanganui spinning plant. Bremworth CEO, Craig Woolford spoke to Lisa Owen. To embed this content on your own webpage, cut and paste the following: See terms of use.
RNZ News
2 hours ago
- RNZ News
One year, 27,850 jobs gone Stats NZ latest data shows
Photo: 123RF New data shows there were 27,850 fewer jobs in New Zealand in June compared to the year before, and young people are feeling the impact of the weak labour market . Stats NZ's latest data shows the number of filled jobs was up 0.1 percent month-on-month but down 1.2 percent year-on-year. Compared to the year before, construction had lost 12,169 jobs, or 6 percent, manufacturing 5850 jobs, or 2.5 percent, professional, scientific and technical services 5150 jobs, or 2.7 percent, and admin and support services 4860 jobs, or 4.7 percent. Education and training and primary industries added jobs. People aged 15 to 19 had 10 percent fewer jobs, those 20 to 24 had 3.5 percent fewer and those ages 25 to 29 had 3.9 percent fewer. Hugh Hawkins, 23, has been looking for a job since finishing an honours degree last year. "Now we're in late July and I've managed to find a tiny bit of casual work through connections of people I know. Otherwise I've been serially ghosted with absolutely no success." Hawkins had set a target of 10 applications a week. "A couple of jobs I was excited for, I felt genuinely directly qualified for, I've gone for and not reached the interview stage. The rejection email often comes with a total of applicants they've had and one I was qualified for had 630 people apply." It seemed a widespread problem, Hawkins said. "Chatting to my coworkers they're virtually all in the same situation. They have to rely on the benefit to pay rent with casual work on the side. People from different walks of life, most young and very qualified…I worked hospitality roles through uni and took volunteer roles and internships relevant to my degree to set myself up as well as possible… if I'm struggling it must mean terrible things for what other people are also going through." Infometrics economists noted that May's month-on-month increase in filled jobs had been revised down in the latest data to a decline. "June's narrow rise could also be revised to flat or negative growth in future releases." Auckland had a 1.9 percent year-on-year fall in filled jobs and Wellington was down 2.3 percent. Canterbury was up 0.1 percent. ASB senior economist Mark Smith said it had been noticeable in the last year or so that young people were being most affected. He said there were likely to be more job losses than the data indicated because some businesses would have added roles during the year. "This is normally a cyclical phenomenon. The hope is that some will go into training if it's available but it's not available for everyone. "The labour market tends to be the last thing to move." He said it was concerning that the revisions in the data in recent months had all been down. "The trend is still falling. It has dragged on… Covid was huge and there are hangovers from that." He said the unemployment rate was likely to move higher in the coming months. Some people who had lost work had dropped out of the labour market, which meant the participation rate fell. The unemployment rate only counts people looking for work. "If that participation rate did not keep falling we would have a much higher unemployment rate, it would be closer to six. "Really the primary sector and the South Island are the good news stories. There is weakness still in the goods sector and the major centres." BNZ chief economist Mike Jones said he still expected the "mid-year activity air pocket" would pass. "The underlying drivers of the recovery remain in place and should reassert themselves in coming quarters. "But the recent weakness does push back the likely timing of the eventual labour market recovery. We doubt the current undershoot of firms' labour requirements relative to worker availability will change appreciably this side of Christmas. Our forecast peak in unemployment has been shunted out to 5.4 percent in the final quarter of the year. Wage growth should thus continue to slow through to the middle of next year." Green Party spokesperson for social development and employment Ricardo Menendez-March called on the government to "take charge and create jobs that help us build a better future". He said the Green Job Guarantee in the party's alternative budget would create 40,000 jobs to rebuild infrastructure, restore nature and build state housing. "We know people out there need opportunities, instead they are being punished and pushed into poverty."
