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.
Contact: Kelly Stevens 0497 577 133
“The Australian Banking Association (ABA) welcomes the agreement reached today on the proposed safeguard mechanism reforms, given it paves the way for the passing of a critical piece of legislation for Australia.
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”
“What is underpinning this bank failure is a number of things, but not least of all, it’s a very niche bank with high exposure to one part of the economy. And that’s the part of the economy that’s been quite volatile and troubled”