Labour may still hand a lifeline to the Government's much-touted surcharge ban. 

The policy was announced with much fanfare last year - with Minister Scott Simpson promising it would be in force by May. 

But he now says the bill's on pause, after David Seymour confirmed ACT won't back it. 

National's now hoping for Labour's support for it to pass, with the Opposition keen to see amendments made so retailers don’t bear the costs of the payments themselves. 

Retail NZ's Carolyn Young says she think's it's unlikely the banks can be forced to absorb them. 

"If they can get the banks to absorb the fees, that would be a great outcome."

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Labour may still hand a lifeline to the Government's much-touted surcharge ban.&nbsp;
The policy was announced with much fanfare last year - with Minister Scott Simpson promising it would be in force by May.&nbsp;
But he now says the bill's on pause, after David Seymour confirmed ACT won't back it.&nbsp;
National's now hoping for Labour's support for it to pass, with the Opposition keen to see amendments made so retailers don’t bear the costs of the payments themselves.&nbsp;
Retail NZ's Carolyn Young says she think's it's unlikely the banks can be forced to absorb them.&nbsp;
"If they can get the banks to absorb the fees, that would be a great outcome."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Carolyn Young: Retail NZ CEO on ACT confirming the Government's hit pause on the surcharge ban

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e4ca0429-6b49-48b4-9be2-b41900503ccd/transcript

New data shows insurance disputes have risen to record levels for the year ended 30 June 2026.

The Insurance & Financial Services Ombudsman Scheme reported handling 3,977 cases during this time period, including 2,602 complaints - with dispute volumes increasing almost 190 percent over the past five years.

NZ Herald Wellington business editor Jenee Tibshraeny says much of this increase was driven by health insurance claims, and this data reflects growing pressures on the health system.

LISTEN ABOVE

New data shows insurance disputes have risen to record levels for the year ended 30 June 2026.
The Insurance &amp; Financial Services Ombudsman Scheme reported handling 3,977 cases during this time period, including 2,602 complaints - with dispute volumes increasing almost 190 percent over the past five years.
NZ Herald Wellington business editor Jenee Tibshraeny says much of this increase was driven by health insurance claims, and this data reflects growing pressures on the health system.
LISTEN ABOVE

Jenee Tibshraeny: NZ Herald Wellington business editor explains why insurance disputes have risen to record levels

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/91809cd5-596c-4b06-9433-b4ce00837b6d/transcript

It's been a disappointing result for KMD Brands, but the company has indicated growth could be coming.

The owner of Kathmandu and Rip Curl has reported a significant financial loss, but sales are up year-on-year and it seems to be headed in a better direction.

Milford Asset Management's Jeremy Hutton explained further.

LISTEN ABOVE

It's been a disappointing result for KMD Brands, but the company has indicated growth could be coming.
The owner of Kathmandu and Rip Curl has reported a significant financial loss, but sales are up year-on-year and it seems to be headed in a better direction.
Milford Asset Management's Jeremy Hutton explained further.
LISTEN ABOVE

Jeremy Hutton: Milford Asset Management expert on KMD Brands reporting $414 million loss

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/dc3f780a-c4d1-4de1-b542-b4ce00815416/transcript

Dame Jacinda Ardern and husband Clarke Gayford have reportedly bought a multimillion-dollar home in Sydney's Northern Beaches suburb.

The pair sold their Auckland home for an undisclosed sum earlier this year, and new reports claim they recently spent $6.5 million on their new home across the ditch.

Northern Beaches buyers agent Danielle Forde says the suburb is a 'distinctive' part of Sydney, with people flocking to buy for the location and ocean views. 

"The clifftop properties in that area can go as high as $12 million - further south in Manly, you can get family homes for $20 million to $25 million. It's not small change by any means, but it isn't extraordinary." 

LISTEN ABOVE

Dame Jacinda Ardern and husband Clarke Gayford have reportedly bought a multimillion-dollar home in Sydney's Northern Beaches suburb.
The pair sold their Auckland home for an undisclosed sum earlier this year, and new reports claim they recently spent $6.5 million on their new home across the ditch.
Northern Beaches buyers agent Danielle Forde says the suburb is a 'distinctive' part of Sydney, with people flocking to buy for the location and ocean views.&nbsp;
"The clifftop properties in that area can go as high as $12 million - further south in Manly, you can get family homes for $20 million to $25 million. It's not small change by any means, but it isn't extraordinary."&nbsp;
LISTEN ABOVE

Danielle Forde: Northern Beaches buyers agent on Jacinda Ardern and Clarke Gayford reportedly buying $6.5 million Sydney home

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/86fb1b1a-6b95-4867-8ccc-b4ce006ab252/transcript

Carolyn Young: Retail NZ CEO on ACT confirming the Government's hit pause on the surcharge ban

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