ABA welcomes SA bank tax block
The Australian Bankers’ Association (ABA) has welcomed the decision by the South Australian Liberal Party to oppose the proposed state bank tax in the SA parliament as it would place the state at a competitive disadvantage to the rest of the country.
ABA executive director Tony Pearson said the growing outcry from South Australians about the tax showed they understood it would have a serious impact on ordinary households and the cost of doing business in their state.
“The SA bank tax is bad policy. It is bad for bank customers, shareholders, and employees. It is bad for business, investment, jobs, and growth in South Australia. And it will impact on all Australians as it affects offshore investor confidence and appetite to invest in our nation,” Pearson said.
“The SA bank tax would also place South Australians at a competitive disadvantage to the rest of Australia, at a time when it can least afford to be and when economic policies are needed to attract investment, drive growth and create jobs in the state.”
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