South Australia abandons bank tax

The Labor government in South Australia has withdrawn its plans to impose a tax on Australian banks, in a move welcomed by the banking lobby.

Australian Bankers' Association chief executive Anna Bligh issued a statement yesterday welcoming the backdown as “good news for the whole state”.

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“Today is a real victory for the people of South Australia and in particular for those who operate businesses. The decision will provide them with a greater level of confidence and certainty, which is vital for business,” Ms Bligh said.

“Australian banks belong to all of us and they’re about growth and driving good economic outcomes; today’s decision will mean we can all get on with the job of making that happen.”

South Australia abandons bank tax
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