9 October 2017
The Australian Bankers’ Association has today welcomed Senator Nick Xenophon’s commitment to put South Australians first and reject the proposed new SA bank tax.
“Senator Xenophon’s reported comments that the tax would have a ‘disastrous effect’ on the South Australian economy are spot on,” ABA Chief Executive Anna Bligh said.
“In announcing his intention to run in the state election and oppose the tax, the Senator has demonstrated he recognises the need for South Australia to have a government and business climate that promotes investment.
“A state which needs to boost economic growth and jobs cannot afford to discourage businesses from setting up shop in South Australia,” she said.
“The majority of South Australians share Senator Xenophon’s opposition to the tax, with a recent Galaxy poll1 showing that 52 per cent of South Australians oppose the tax compared with only 38 per cent who support it.
“Almost 60 per cent of people surveyed believe the tax will damage South Australia’s competitiveness versus other states that don’t have the tax,” Ms Bligh said.
“The ABA urges the Government to abandon the tax plan and restore certainty to South Australians.”
Contact: Stephanie Arena 0477 470 677
1Galaxy surveyed 801 people in South Australia between 8 – 12 September 2017 via telephone and online.
“…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.