'Unjustified': Australian government responds to Trump's steel tariffs
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7m ago 7 minutes ago Sat 31 May 2025 at 4:22am
Australia's trade minister has criticised Trump's tariffs on steel imports, saying they are "unjustified and not the act of a friend."
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News.com.au
32 minutes ago
- News.com.au
‘Still cheaper than cash': One fee Australians are tired of paying
The bulk of Australian consumers say businesses should be banned from passing on surcharges, with figures showing it is actually a cheaper form of payment than cash. According to survey data commissioned by MasterCard, 69 per cent of Aussies believe card surcharge payments should be banned. A further 85 per cent of Australians say they think these fees should be considered as part of the cost of doing business, with 40 per cent wanting it to be factored into the advertised produce cost, while 45 per cent say the merchant should just absorb the cost. MasterCard division president Australasia Richard Wormald told NewsWire despite customer frustrations businesses should not be absorbing the costs completely. 'Digital payments are another cost of doing business, like coffee beans, rent or wages, and there are real costs involved in providing them,' he said. Mr Wormald said while merchant service fees turn the average cup of coffee up from $5 to $5.08, it is still cheaper than accepting cash, which usually adds around 20 cents per cup of coffee. Currently businesses do not pass on the cost of customers using cash. 'But card payments are actually the cheapest way for retailers to get paid, costing less than half as much as accepting cash,' he continued. 'They should build it into their pricing, just like any other input, which also makes the cost clearer for customers and builds trust.' Last month the Australian Competition and Consumer Commission reminded businesses to ensure they are being transparent with their customers before any card payment surcharges. ACCC deputy chair Mick Keogh said over the coming financial year, consumer law and compliance regarding 'misleading surcharge practices' will take top priority. 'Businesses need to ensure their customers know about any card payment surcharges upfront, and that they are only charging what it costs them to accept those card payments,' Mr Keogh said. 'We understand that small businesses need to be across a lot of information to comply with all of the laws that apply to their business, however, charging excessive surcharges and not being upfront with customers about pricing can result in small businesses losing customers. Prime Minister Anthony Albanese and Treasurer Jim Chalmers previously announced plans to move on excessive card surcharges, as part of a number of proposed reforms to help with the cost-of-living. The government said any reduction surcharges would come in consultation with the Reserve Bank of Australia. Mr Wormald said Australian businesses would likely be able to adapt if the ban on surcharges is passed by the government. 'We've seen in markets like the UK that banning surcharges saw small businesses adapt by building the cost of payments into their pricing, just like any other input,' he said. 'A ban would force businesses to take a closer look at those services, find better value, and ultimately deliver a fairer experience for consumers.' He also dismissed claims it could be inflationary because small businesses would simply slug customers $5.50 a coffee instead of the current $5 plus a $0.08 payment fee. 'The idea that factoring in payment costs would be inflationary does not really stack up. Consumers are already paying these costs through surcharges, so including them in the advertised price does not change what people are paying, Mr Wormald said. 'It just makes the cost more transparent. And in instances where businesses find a better deal that meets their needs elsewhere, factoring in a lower payment cost could lead to lower prices and be deflationary, not inflationary.'
ABC News
38 minutes ago
- ABC News
Getting COVID booster alongside flu shot could reduce hospitalisations, study finds
As winter begins, a new study has found that getting a COVID-19 booster at the same time as the flu vaccination could reduce the rate of hospital admissions for coronavirus. In a study published in the Medical Journal of Australia, Burnet Institute researchers found that offering COVID-19 vaccination boosters alongside the flu shot could reduce the hospital admission rate for COVID-19 by up to 14 per cent. It comes amid a renewed push by experts for Australians to get the COVID-19 booster as the NB. 1.8.1 variant has driven up infections. Researchers used mathematical models to compare scenarios where COVID-19 vaccines were delivered at different times of the year. The results showed that even though COVID-19 was not seasonal like influenza, increasing COVID-19 booster rates by offering them at the same time as the influenza vaccine was still likely to be an effective public health strategy. In the last six months, there have been 1.3 million doses of COVID boosters administered to people aged 18 years and over. Experts have been proactive in their push for higher vaccination rates. Among them is Burnet Institute head of modelling and biostatistics, and co-author of the study, Associate professor Nick Scott. He said offering both vaccinations at the same time could also be a simple way to increase vaccination coverage. "By offering a COVID-19 booster vaccination alongside the annual influenza vaccination, we could aim to achieve similar vaccination coverage for COVID-19 as influenza, which would make a meaningful difference in reducing hospital admissions and deaths," he said. Another of the study's co-authors, mathematical modeller Fenella McAndrew, said the research showed that getting vaccinated at any time against COVID-19 was a benefit, so it made sense to receive both vaccinations together. "Unlike influenza, COVID-19 doesn't have a well-defined season, and when we modelled different scenarios, the percentage of people receiving booster vaccinations was more important than the timing of the vaccination," she said. With such a reliable vaccine available for COVID-19, it makes sense for people to receive regular booster vaccinations to protect themselves, she added. COVID-19 infection can lead to serious illness that can impact every system in the body, leading to a variety of health concerns including cognitive decline, immune system damage, liver impairment, kidney disease and reduced lung function. It can also increase the risk of cardiovascular disease and diabetes. The Australian government recommends COVID-19 booster vaccinations every 12 months for healthy adults between the ages of 18-64 without any risk factors. Older Australians, aged 75 and older, without any risk factors are advised to receive a booster vaccination every six months. According to the Department of Health, regular COVID-19 vaccinations are the best way to maintain your protection against severe illness, hospitalisation and death from COVID-19. They are especially important for anyone aged 65 years or older and people at higher risk of severe COVID-19.
News.com.au
2 hours ago
- News.com.au
Natural disasters cost Australia $2.2 billion in first six months of 2025
The Treasury has flagged GDP figures may be lower than expected this quarter due to a huge economic loss from natural disasters so far in 2025. New analysis by the Treasury has estimated the immediate loss of economic activity from natural disasters so far in 2025 is $2.2 billion. The huge costs of disasters this year, include the impacts of flooding in the NSW Hunter and mid-North Coast regions, as well as Cyclone Alfred and flooding in western Queensland and Far North Queensland. Most of the loss will affect the March quarter, the Treasury said, which is to be reflected in National Accounts released on Wednesday. The natural disasters have also had an impact on retail trade and household spending, data from the March quarter suggests. Retail trade in Queensland dropped 0.3% in February and 0.4% in March. Household spending was flat nationally, with a 0.2% drop in Queensland contributing. Treasurer Jim Chalmers highlighted the dual focus on human and economic costs, with continued disaster assistance. 'Our government's first priority is helping to fund the recovery and rebuild for communities hit hard by all the heavy weather we're seeing more and more frequently,' he said in a release. 'The human impacts matter to us most, but the economic cost is very significant too and we'll see that in Wednesday's National Accounts. 'The Government will be there for people in disaster hit regions, just like they're there for each other.' Mr Chalmers added they have activated disaster assistance to the Hunter and mid-North Coast regions of NSW. 'Because of the progress Australians have made together in the economy, with inflation down, debt down and unemployment low, we're in a stronger position to provide support when communities need it most,' he said. Meanwhile, Minister for Emergency Management Kristy McBain stressed the importance of preparedness and long-term recovery, with an extra $200 million to be invested via the Disaster Ready Fund in 2025–26. 'Our Government is committed to preparedness and resilience in order to protect communities when disasters strike,' she said. 'We are committed to funding support to increase resilience, adaptability and preparedness. Our Disaster Ready Fund initiative will provide another $200 million of investment in 2025-26.' Ms McBain said she has recently been on the ground in NSW, and has seen first hand the effects a disaster can have. 'We have activated multiple disaster payments and we will continue to work with NSW on any other funding requests and I have been meeting with small business and primary producers who have been hit hard,' she said. 'For a lot of these people, it's the cumulative impact of a number of events and we understand that. 'That's why recovery isn't going to be over the next couple of days when cameras and lights are on the area. It's going to be days, weeks and months that we'll walk with these communities.'
