Concerns are high for small businesses after the latest announcement from the Reserve Bank.
On Tuesday, the bank declared it would lift the cash rate from 3.6 per cent to 3.8.
While home loans would be affected, raising the monthly payment by almost $100 a month, CPA Australia said it would compound all cost‑of‑living pressures.
For small business, the announcement adds pressure from high borrowing costs, rising inflation and low consumer confidence.
This comes as discussion about the size and relevance of allowances and perks for federal and state politicians continues to grow.
Prime Minister Anthony Albanese attended the Australian Open tennis last week with his son, both positioned in premium seats, believed to be worth over $2000 each.
