15 November 2017
The Australian Bankers’ Association has welcomed the South Australian Government’s decision to abandon its plans to introduce a bank tax.
ABA CEO, Anna Bligh, said the decision is good news for the whole state.
“Today is a real victory for the people of South Australia and in particular for those who operate businesses. The decision will provide them with a greater level of confidence and certainty which is vital for business.
“Australian banks belong to all of us and they’re about growth and driving good economic outcomes; today’s decision will mean we can all get on with the job of making that happen.
“I would like to thank the Parliament of South Australia and in particular the South Australian Liberal Opposition lead by Steven Marshall, Advance SA’s John Darley and Australian Conservative Party members Robert Brokenshire and Dennis Hood for opposing the economically damaging tax.
“I would also like to thank Business SA for standing up for the people of the State,” Ms Bligh said.
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“…banks can go back to their normal processes and that is working out what’s right for every single customer, on an individual tailored basis with a proper assessment. That is the best thing for the customer.”
Access to credit opens up opportunities and fulfills aspirations. Getting it right requires the right balance between consumer protections and the flow of credit.
Interviewed by AM’s Peter Ryan, ABA CEO Anna Bligh talked about the substantial drop in loan deferrals since their peak during the pandemic, falling from 900,000 to 300,000.