Australian Treasurer Scott Morrison has urged the nation’s banks not to pass on a large new tax to their customers. Australia’s five biggest banks were the biggest losers in Mr Morrison’s budget.
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‘They don’t like you’: Scott Morrison warns big banks to absorb new tax By James Massola and chief political correspondent Updated May 10, 2017 – 7.15pm first published at 1.49pm
Interview with John Laws, 2SM | The Hon Scott Morrison MP – Interview with John Laws, 2sm. subjects: budget 2017. john LAWS: The Treasurer Scott Morrison has delivered the Budget overnight and, hopefully, he’s on the line. Scott Morrison, good morning.. It’s not a levy on bank customers at all. I mean there was a bank deposits tax.
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Scott Morrison has rejected a last-minute plea from the banks to impose a sunset clause on the governments 6.2 billion levy on the sector, as Treasury conceded it assumed the impost would be.
2017 BUDGET | Disability Support, Age Pension and Carers. – As the banks continued to attack the Turnbull government over the $6.2bn levy, Xenophon called for the government to go wider than the big five Australian banks and haul in foreign banks. He said it should apply not just to the Commonwealth, National Australia Bank, ANZ, Westpac and Macquarie Bank but to foreign banks of a similar size – BNP.
Australian Treasurer Scott Morrison has implored the nation’s banks not to pass on a large new tax to their customers. On Tuesday, Australia’s five biggest banks were the biggest underdogs in Morrison’s budget when they were given a combined A$6.2bn ($4.6bn; 3.5bn) levy.
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Continuing his budget sales job at the weekend, Mr Morrison ramped up pressure on the banks not to pass the 0.06 per cent levy – which will raise an estimated $6.2 billion – on to customers.
Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says. A day after the budget revealed the levy on bank liabilities, Commonwealth Bank chief Ian Narev flagged passing the impost on to
Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says.