National Party leader Judith Collins is supporting Labour's promise to regulate paywave costs, but described it as "a pretty small fig leaf" to compensate costs imposed on businesses.
In COVID-19 times, waving cash is being replaced by waving cards, but paywave or contactless payments in New Zealand are costly for business - nearly twice what Australia pays.
Newshub asked Labour leader Jacinda Ardern on Tuesday if it points to the fact that New Zealand banks and merchants are greedy, and she said "different explanations are given".
Whatever the reason, Labour is promising to regulate and cut paywave costs, which National supports, but Collins says it's "a bit of a fig leaf to cover all the other costs they've landed on business, so it's a pretty small fig leaf too".
Labour's small businesses spokesperson Stuart Nash sees it differently.
"For anyone to say this is a mere fig leaf, I can tell you when I talk to retailers, this is one of the main bugbears, you know, it frustrates the hell out of them," Nash said.
That's definitely true for Tauranga's The Whipped Baker.
"That's over $200 a month we had going out in paywave, and I said you know what, you guys have go to push your own buttons," said Frances Cooper, owner of The Whipped Baker Owners.
Asked how much of a difference it will make those have those paywave fees waived, she said, "Huge."
The centrepiece of Labour's small business policy on Tuesday was an extension of three years to the small business loan scheme which is due to expire this year.
Small businesses can borrow $10,000 from the Government, plus $1800 extra per employee. Businesses can borrow up to $100,000. The interest-free period has been extended from one year to two.
"We've already heard from some small businesses that this provides them an extra layer of confidence at a time of uncertainty," Ardern said.
If businesses fault on the loans the Government pays and Treasury estimated up to $3 billion. But Labour's finance spokesperson Grant Robertson is optimistic businesses will pay it back.
"With the conditions of this loan we're going to see people pay it back and in fact we've already seen some people pay it back," he said.
All political parties know the economy is where this election is at.
"We are the party of small business," Nash proclaimed in Tauranga.
New Zealand First leader Winston Peters said he thinks neither Labour nor National are the party of small business.
"Neither of them are. The party of small business you're looking at," Peters said.
Analysis by Political Editor Tova O'Brien
The economy will be the campaign focus again on Wednesday.
It's tax policy time for Labour, a tricky topic to traverse, especially in COVID-19 times when we're borrowing so much money and somehow need to pay it back.
Tax has been an Achilles heel for the Labour Party the last couple of elections. National uses it as one of its favourite sticks to bash Labour with because it works, so much so that Jacinda Ardern ruled out in perpetuity a capital gains tax under her leadership.
So, we know that's not going to be in there.
As for what is, Labour is keeping this very tight. It wants to play a straight bat on tax and also wants to keep it away from the Prime Minister.
Jacinda Ardern will be in Whakatane while Grant Robertson will be in Wellington doing the deed, keeping the tax tarnish away from Ardern.
