28 July 2017
Sydney, 26 July 2017: The Australian Bankers’ Association Chief Executive Anna Bligh today called on Western Australian Premier Mark McGowan not to introduce a tax on banks in September’s state budget.
“A tax on banks would be dangerous for Western Australia’s economy,” Ms Bligh said.
“Just like South Australia, WA badly needs jobs and investment. A move like this would significantly impact the West Australian economy at a time it needs support.
“Banks are talking with all sides of politics in Western Australia to emphasise that a tax on business would be the worst thing for their economy and the people of WA,” she said.
“The likelihood of South Australia’s tax on banks is already doubtful with widespread opposition from the business community, the people of South Australia and Members of Parliament.
“Almost half of voters in key marginal seats in South Australia are opposed to the tax because they think it will increase costs for South Australians, affect investment in the state and reduce South Australia’s competitiveness compared to other states that don’t have the tax.
“If the tax is defeated in South Australia, WA would be the only state to distance itself from job creation and investment,” Ms Bligh said.
“The ABA calls on Premier McGowan not to introduce a bank tax and send a strong signal that WA is focused on growing its economy.”
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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.