26 September 2017
Australian Bankers’ Association Chief Executive Anna Bligh today welcomed the South Australian Property Council’s call for the South Australian bank tax to be dumped.
In a report on the South Australian economy released today, the Property Council described the bank tax as ‘bad economic policy that applies a handbrake on investment and jobs’.
“This is another example of a major South Australian business group calling for this tax to be dumped before it does damage to the state,” Ms Bligh said.
“South Australia needs incentives to attract business, not new taxes that will discourage businesses from investing in new projects and employing people.
“The ABA calls on the South Australian Government to heed the warnings of businesses and the people of South Australia and dump the tax,” she said.
The South Australian Upper House is set to determine the fate of the tax in a vote within weeks.
The Property Council comments on the SA bank tax can be found here.
ENDS
Contact: Stephanie Arena 0477 470 677
Latest news
This op-ed was originally published in the Australian Financial Review More rates pain denotes an even greater focus on the fight against inflation. Rightly so. As the Reserve Bank pulls harder on the monetary policy lever to reduce aggregate demand, a proper focus also falls on the role of all governments to do likewise through… Read more »
Banks welcome Treasurer Jim Chalmers’ release today of draft regulations to lift the cap on covered bond issuance, a practical step that would help small and mid-tier banks access cheaper, more stable funding. ABA CEO Simon Birmingham said these changes, including streamlined reporting for smaller banks, are a welcome part of the Government’s broader productivity… Read more »
Banks have welcomed Shadow Treasurer Tim Wilson’s call today for the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) to give more weight to economic growth in their decision making. ABA CEO Simon Birmingham said regulation that supports growth is key to lifting productivity across the economy. “Banks want to… Read more »