Labor bars banks’ super-profits tax

Original article by Rosie Lewis
The Australian – Page: 4 : 11-Apr-16

Australians Greens MP Adam Bandt has told Sky News that the nation’s largest banks should be subject to a new tax. He argues that the major banks can access the wholesale funding market at much lower rates than smaller rivals as the Federal Government will provide bailouts in the event of financial problems. However, Opposition Treasury spokesman Chris Bowen says the Australian Labor Party will not introduce a "super-profits" tax on banks.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY

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