Dan Hunter

They've got a home that's worth, say, a million dollars, and they've got a $500,000 mortgage on that that's cross-securitized with the business.

Their revenue's going down because people are buying coffee once a day instead of twice a day, or they're not getting the muffin anymore, and their costs are going up.

Their interest rates have gone up on that loan.

They've got fuel pressures if they are relying on fuel in their business, but everything's gone up because fuel impacts the price of everything, which we know.

And they're getting higher wage demands, I think.

Natasha, that's probably one that we don't talk about a lot, but

A lot of people, when their mortgages go up, they go to their employer, to their boss, and they say, look, is there any chance you can give me a pay rise because things are getting really tight at home?

So the poor old business owner is kind of getting squeezed in the middle here.

And we often find, you know, with a lot of businesses, once we lose them, we don't get them back, particularly in, say, the manufacturing space.

Yeah, often we see business owners, particularly in that hospitality sector where the owner of that business gets paid last and often they're not working for much money at all because they're paying themselves last.

They're paying all their expenses and their staff and all those sorts of things.

And they're often doing huge hours.

After hours, they're doing all their admin and they're not making very much money at all.

Often they can't pass on the price increases.

Yeah, and what we're seeing with that fuel crisis, I think, is it creates uncertainty.

So people in uncertain times, they don't spend.

Even if they have cash, they sit on it.

So instead of going out a couple of times a week, they might go out once a month.

A great example...

the uncertainty thing is our retirees who are often at this time of year traveling north with their caravans with their diesel cars now i was talking to someone uh yesterday and they're not going this year and it's not because they have large mortgages a lot of retirees obviously don't have mortgages they have cash but it's the uncertainty they don't want to leave home