00:00:00
S1: A new survey by the RBA has given a glimmer of hope to the proponents of cash. I mean, cash is king or queen. Who doesn't love cash? After 20 years of decline, cash use has finally seen an uptick. Good. I mean, the government doesn't need to know where you spend every single cent. Nothing wrong with hanging on to a bit of cash. CEO of National Seniors Australia, Chris Grice joins us now. Good morning Chris.
00:00:29
S2: Good morning Jason. Good to be with you.
00:00:31
S1: Well mate great to have you on as well. And it's great to hear this news. Cash made up 15% of payments last year, up from 13% in 2022. You've been running keep cash campaigns since July 2024, which we've spoken a lot about here on for BC. Why do you think cash is being used just that little bit more?
00:00:52
S2: I think that, uh, people are now realizing, you know, this message that we've been promoting for some time and, for BC has done a great job to get that message out. Is that basically it's it's use it or lose it. And if you look at the, you know, the uncertainty in terms of, you know, fuel and oil and all that sort of stuff is that cash is another one of those things is there's a sovereign risk that we've got to have it as a backup. And I'm really pleased to see that this we're now getting traction. Um, and this is not, you know, not, you know, pushing people away from digital payments. That's all good. And we need to, you know, safely transition people across, but we've got to have cash as a backup in particular for supporting regional and rural parts of the country. And that's, that's something that's come out in the RBA results. Um, the, those of.
00:01:43
S1: Well, they don't have access to big banks anymore. Chris. They've all shut down and left town.
00:01:49
S2: Exactly. And this will be the next thing Jason that that uh, there's the moratorium in regards to, uh, you know, the treasurer making that announcement. There was a moratorium. There would be no bank closures from the majors in regional, rural parts of the country. That expires in July next year.
00:02:06
S1: So yeah. Right.
00:02:07
S2: And this is it's all connected. Um, the thing is that, you know, cash is in dispensing cash and providing those support services is part of that branch environment. And, uh, and so branch and ATM environment. And so yeah, so for us, the campaign continues, uh, and just basically building on that momentum of, of, we're seeing those green shoots in terms of an uptick, which we're really pleased with. Um, I mean, we know that, uh, what is it? Armaguard. I think who do 95% of the deliveries around the country, um, they're transiting about $6 billion a week.
00:02:41
S1: Isn't that incredible?
00:02:42
S2: It still has a significant role to play. And, and yeah, we're really pleased to see that we're getting some the community sort of, you know, getting on board and seeing this as being a really important issue.
00:02:52
S1: And dare I say it, Chris, and there'll be no stats on this whatsoever. The good old Kashi. You know, when you pay the tradie to come around to a few odd jobs and you might sling them a few hundred dollars. What does that tradie then do with that money? They go and spend it somewhere else. So there's a whole there's a whole world of caches going on as well. And it's good for the economy because you don't want to hang on to it. You don't want to bank it, you go and spend it. And that's a wonderful economy as well.
00:03:20
S2: This is an off the record comment, but the thing is that can help getting inflation down.
00:03:25
S1: Absolutely.
00:03:27
S2: We can do. There's a broader there's a broader benefit here.
00:03:30
S1: Off the record.
00:03:31
S2: Inflation. So off the record.
00:03:33
S1: I'm not speaking on behalf of my tradie mates here either by the way. Um, but tradies driving around listening or on the worksite right now. Listen to this. They know what we're talking about, what we're not talking about. Now Chris.
00:03:45
S2: Spring in their step.
00:03:46
S1: Today. That's right. The RBA recently announced a ban on debit and credit card surcharges from October 1st. Do you think that will encourage businesses to accept cash again.
00:03:56
S2: Yeah, this is something and that was all part of that campaign as well. Is is working with small business, not being punitive in finding them. How do we help them and, and promote, uh, people getting into their stores and, uh, and making purchases, whether they be with cash or whether they be with, um, you know, uh, cards with no fees. That's the important piece.
00:04:20
S1: Well, the businesses are going to have to cut the business. Chris, sorry to cut you off there, but the businesses are going to have to cop that cost, right? Unless prices go up, of course, which which will more than likely happen. So it's it's up to businesses. And I think it's a good thing for them to say, listen, just pay us cash. It's cheaper for us.
00:04:40
S2: Exactly. And, but, but if nothing else, at least Jason there will be transparency.
00:04:47
S1: Yeah.
00:04:47
S2: Uh, in the payment because you look up at the board, the cost of the item and then what actually goes through in the transaction, there's a disconnect. You don't actually pay. What's the advertised price because of the fees and charges that are that are added on. So at least that if if there is some modest absorption absorption, the price people can make an informed decision as to whether do they do they want to make that purchase upfront versus going, oh, hang on, there's another $0.55 that's been added on. Didn't tell me about that.
00:05:17
S1: Yeah, maybe. Maybe now, maybe now people will just go, you know, it's easier to pay cash and I'll accept cash. Just moving on from that. Um, not often I give the government a wrap, but um, Health Minister Mark Butler uh, today older Australians on supported home packages will no longer have to pay for help to shower, get dressed or go to the toilet. This is great news. I mean, we're getting reports of some, some aged care recipients paying $180 simply for a shower and having to decide, well, I can only afford one shower a week if I have more than that, I can't afford groceries. This is wonderful news.
00:05:53
S2: This isn't, you know, finally, uh, the government has seen sense on this and, uh, the, the aged care minister, Sam Ray, you know, and his, his comments that, you know, this is this is not something that, um, you know, that they're not, there shouldn't be optional extras, you know, sharing dressing and continence.
00:06:12
S1: Care, basic, right?
00:06:13
S2: These are fundamental basic rights. Exactly. And if you sort of tie this in, I know, I think, um the Queensland Health Minister, Tim Nicholls, is going to say something in the Parliament today around stranded patients. All of this is connected. Because what happens is that if you've got health and hygiene where people aren't sharing because of the cost piece, that then turns, does that turn into infections? And then that means.
00:06:38
S1: That.
00:06:38
S2: They then go to hospital. And there's so this is this, it's all system related and so very pleasing to see that, um, you know, that there is common sense finally has, has prevailed in terms of what is proposed to be announced. And, you know, we're really pleased and in particular, we know that from no earlier than July 2027, the Commonwealth Home Support Program, there's about 850, 000 people that are going to move into the supported home program. And this is this is where the sharing thing applies. And the thing is that if if this not system's not ready, it's going to be an absolute debacle. And so at least we're in a better chance with this decision being made, that we're going to have much better outcomes for older Australians who need that aged care.
00:07:26
S1: It's not often I give the government a pat on the back, but common sense, as you said today, Chris, with with that announcement. Hey mate, keep up the fight Recache. We want to see that level increase further when we talk about this, when it's monitored again in a couple of years time. Chris Grice, CEO of National Seniors Australia. Always appreciate your time on the program, mate.
00:07:46
S2: Thank you Jason. And thanks to the listeners.
S1: A new survey by the RBA has given a glimmer of hope to the proponents of cash. I mean, cash is king or queen. Who doesn't love cash? After 20 years of decline, cash use has finally seen an uptick. Good. I mean, the government doesn't need to know where you spend every single cent. Nothing wrong with hanging on to a bit of cash. CEO of National Seniors Australia, Chris Grice joins us now. Good morning Chris.
00:00:29
S2: Good morning Jason. Good to be with you.
00:00:31
S1: Well mate great to have you on as well. And it's great to hear this news. Cash made up 15% of payments last year, up from 13% in 2022. You've been running keep cash campaigns since July 2024, which we've spoken a lot about here on for BC. Why do you think cash is being used just that little bit more?
00:00:52
S2: I think that, uh, people are now realizing, you know, this message that we've been promoting for some time and, for BC has done a great job to get that message out. Is that basically it's it's use it or lose it. And if you look at the, you know, the uncertainty in terms of, you know, fuel and oil and all that sort of stuff is that cash is another one of those things is there's a sovereign risk that we've got to have it as a backup. And I'm really pleased to see that this we're now getting traction. Um, and this is not, you know, not, you know, pushing people away from digital payments. That's all good. And we need to, you know, safely transition people across, but we've got to have cash as a backup in particular for supporting regional and rural parts of the country. And that's, that's something that's come out in the RBA results. Um, the, those of.
00:01:43
S1: Well, they don't have access to big banks anymore. Chris. They've all shut down and left town.
00:01:49
S2: Exactly. And this will be the next thing Jason that that uh, there's the moratorium in regards to, uh, you know, the treasurer making that announcement. There was a moratorium. There would be no bank closures from the majors in regional, rural parts of the country. That expires in July next year.
00:02:06
S1: So yeah. Right.
00:02:07
S2: And this is it's all connected. Um, the thing is that, you know, cash is in dispensing cash and providing those support services is part of that branch environment. And, uh, and so branch and ATM environment. And so yeah, so for us, the campaign continues, uh, and just basically building on that momentum of, of, we're seeing those green shoots in terms of an uptick, which we're really pleased with. Um, I mean, we know that, uh, what is it? Armaguard. I think who do 95% of the deliveries around the country, um, they're transiting about $6 billion a week.
00:02:41
S1: Isn't that incredible?
00:02:42
S2: It still has a significant role to play. And, and yeah, we're really pleased to see that we're getting some the community sort of, you know, getting on board and seeing this as being a really important issue.
00:02:52
S1: And dare I say it, Chris, and there'll be no stats on this whatsoever. The good old Kashi. You know, when you pay the tradie to come around to a few odd jobs and you might sling them a few hundred dollars. What does that tradie then do with that money? They go and spend it somewhere else. So there's a whole there's a whole world of caches going on as well. And it's good for the economy because you don't want to hang on to it. You don't want to bank it, you go and spend it. And that's a wonderful economy as well.
00:03:20
S2: This is an off the record comment, but the thing is that can help getting inflation down.
00:03:25
S1: Absolutely.
00:03:27
S2: We can do. There's a broader there's a broader benefit here.
00:03:30
S1: Off the record.
00:03:31
S2: Inflation. So off the record.
00:03:33
S1: I'm not speaking on behalf of my tradie mates here either by the way. Um, but tradies driving around listening or on the worksite right now. Listen to this. They know what we're talking about, what we're not talking about. Now Chris.
00:03:45
S2: Spring in their step.
00:03:46
S1: Today. That's right. The RBA recently announced a ban on debit and credit card surcharges from October 1st. Do you think that will encourage businesses to accept cash again.
00:03:56
S2: Yeah, this is something and that was all part of that campaign as well. Is is working with small business, not being punitive in finding them. How do we help them and, and promote, uh, people getting into their stores and, uh, and making purchases, whether they be with cash or whether they be with, um, you know, uh, cards with no fees. That's the important piece.
00:04:20
S1: Well, the businesses are going to have to cut the business. Chris, sorry to cut you off there, but the businesses are going to have to cop that cost, right? Unless prices go up, of course, which which will more than likely happen. So it's it's up to businesses. And I think it's a good thing for them to say, listen, just pay us cash. It's cheaper for us.
00:04:40
S2: Exactly. And, but, but if nothing else, at least Jason there will be transparency.
00:04:47
S1: Yeah.
00:04:47
S2: Uh, in the payment because you look up at the board, the cost of the item and then what actually goes through in the transaction, there's a disconnect. You don't actually pay. What's the advertised price because of the fees and charges that are that are added on. So at least that if if there is some modest absorption absorption, the price people can make an informed decision as to whether do they do they want to make that purchase upfront versus going, oh, hang on, there's another $0.55 that's been added on. Didn't tell me about that.
00:05:17
S1: Yeah, maybe. Maybe now, maybe now people will just go, you know, it's easier to pay cash and I'll accept cash. Just moving on from that. Um, not often I give the government a wrap, but um, Health Minister Mark Butler uh, today older Australians on supported home packages will no longer have to pay for help to shower, get dressed or go to the toilet. This is great news. I mean, we're getting reports of some, some aged care recipients paying $180 simply for a shower and having to decide, well, I can only afford one shower a week if I have more than that, I can't afford groceries. This is wonderful news.
00:05:53
S2: This isn't, you know, finally, uh, the government has seen sense on this and, uh, the, the aged care minister, Sam Ray, you know, and his, his comments that, you know, this is this is not something that, um, you know, that they're not, there shouldn't be optional extras, you know, sharing dressing and continence.
00:06:12
S1: Care, basic, right?
00:06:13
S2: These are fundamental basic rights. Exactly. And if you sort of tie this in, I know, I think, um the Queensland Health Minister, Tim Nicholls, is going to say something in the Parliament today around stranded patients. All of this is connected. Because what happens is that if you've got health and hygiene where people aren't sharing because of the cost piece, that then turns, does that turn into infections? And then that means.
00:06:38
S1: That.
00:06:38
S2: They then go to hospital. And there's so this is this, it's all system related and so very pleasing to see that, um, you know, that there is common sense finally has, has prevailed in terms of what is proposed to be announced. And, you know, we're really pleased and in particular, we know that from no earlier than July 2027, the Commonwealth Home Support Program, there's about 850, 000 people that are going to move into the supported home program. And this is this is where the sharing thing applies. And the thing is that if if this not system's not ready, it's going to be an absolute debacle. And so at least we're in a better chance with this decision being made, that we're going to have much better outcomes for older Australians who need that aged care.
00:07:26
S1: It's not often I give the government a pat on the back, but common sense, as you said today, Chris, with with that announcement. Hey mate, keep up the fight Recache. We want to see that level increase further when we talk about this, when it's monitored again in a couple of years time. Chris Grice, CEO of National Seniors Australia. Always appreciate your time on the program, mate.
00:07:46
S2: Thank you Jason. And thanks to the listeners.
