Original article by Phillip Coorey, James Frost
The Australian Financial Review – Page: 1 & 4 : 1-Jun-17

Australia’s banks have conceded that the Federal Goverment’s proposed levy is likely to proceed, but they have expressed concern about the "aggressive" stance of Treasurer Scott Morrison regarding the sector. Financial System Inquiry chair David Murray has described the levy as a "hate tax" which raises the question of whether the Government will target other sectors. Australian Foundation Investment Company MD Ross Barker has also expressed concern about the Government’s stance on the banks, given their importance to the economy.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG