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
The ABA acknowledges the release of the 2025-26 Mid-Year Economic and Fiscal Outlook. The Government’s forecasted $8.4 billion reduction in the deficit over the forward estimates including a $5.4 billion reduction for year’s deficit is welcome. Lower deficits and claimed savings of $20 billion over the next four years is a beginning towards ensuring our national finances are on a more sustainable footing. While this Budget update contains lower forecasts of spending as a share of GDP, the ABA notes the importance of ongoing spending restraint to help reduce inflationary and interest rate pressures. Banks… Read more »
ANZ CEO Nuno Matos has been appointed as the new Chair of the ABA Council, as banks continue their focus on meeting the needs of customers as well as playing a crucial role in the Australian economy. At the ABA’s Annual General Meeting today in Melbourne, ING CEO Melanie Evans was also reappointed as Deputy… Read more »
The ABA welcomes today’s release of draft industry designations and framework for scams code obligations for banks, telecommunication companies and digital platforms – reinforcing the importance of an ecosystem approach in the fight against scammers. ABA CEO Simon Birmingham said the draft materials were the next piece of the puzzle in ongoing efforts to drive… Read more »