The problem is that businesses are now going to lift their prices and they are going to lift at more than the small percentage that the credit card companies were charging and that they were passing on.
I work in software and we’ve been dealing with this with our customers for months leading up to it and in our tests not one of them was rising the prices the same amount as their credit card surcharge.
Watching, you will see a credit card surcharge of say 1.2%, but in the end they are rising their prices 2.5 to 3%.
They round up when they rise their price and they don’t just round up in cents, they round up in dollars.
So, unfortunately, Albanese did not just save the country billions. He just raised inflation considerably. Watch your mortgage go up and watch the rents rise.
The problem is that businesses are now going to lift their prices and they are going to lift at more than the small percentage that the credit card companies were charging and that they were passing on.
I work in software and we’ve been dealing with this with our customers for months leading up to it and in our tests not one of them was rising the prices the same amount as their credit card surcharge.
Watching, you will see a credit card surcharge of say 1.2%, but in the end they are rising their prices 2.5 to 3%.
They round up when they rise their price and they don’t just round up in cents, they round up in dollars.
So, unfortunately, Albanese did not just save the country billions. He just raised inflation considerably. Watch your mortgage go up and watch the rents rise.