Businesses hesitant to hire or invest with oil price surges

It's the whirlpool of war, with prices spiralling upward while confidence is turning in the opposite direction. That's according to a new survey from the Employers and Manufacturers Association. Of the 150 business that responded to the EMA's Fuel Pulse Check Survey, 73 percent said their businesses have been notified of price hikes that are not direct fuel costs, but are linked to oil price surges. Almost 60 percent are planning to put their prices up in response. EMA's head of advocacy, Alan Mcdonald spoke to Lisa Owen.