Albo’s inflation own goal
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On 1 October, Prime Minister Anthony Albanese boasted on social media that banning card surcharges at stores would save Australians $1.6 billion a year:
“Every time you tap, those little surcharges add up. Right now, they’re costing Aussies $1.6 billion each and every year”.
“But from today, they’re banned”. Saving you money every time you tap”.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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