Budget 2017: Scott Morrison's bitter war on banks escalates – Treasurer Scott Morrison has slapped down a demand by the banks that the new $6.2 billion tax be lifted as soon as the budget was back in surplus, saying the major bank levy would be permanent.
What mortgage rate history can tell us about the future 5-Year Fixed-Rate Historic Tables HTML / Excel Weekly PMMS Survey Opinions, estimates, forecasts and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects.
Those are the fears spelt out by the Commonwealth Bank as Treasurer Scott Morrison stares down the country’s largest banks over the $6.2 billion tax due to start in July.. banks not to pass.
Federal budget 2017: Scott Morrison pleads with big banks not to pass levy on to customers. The levy will raise $6.2 billion over four years but has been slammed as a "very bad idea" by David Murray, the head of the Government’s financial system inquiry.
The Federal Government levy aims to raise $6 billion from lenders with more than $100 billion in liabilities Earlier, the Turnbull government warned the big banks not to lie to their customers if they.
MORE STORIES ‘A test of their honesty’: scott morrison warns banks not to pass on new $6BILLION tax to customers – as he refuses to answer whether the Medicare levy will increase AGAIN
MBS Day Ahead: As Treasuries Consolidate, MBS Have Been Outperforming We don’t know how long it will last, but the best case is that we see a consolidation. consider the past few days to have been a healthy pull-back. If yields blow through 1.53 and head higher,
Research shows the banks will pass the bank levy on to customers. Budget bank levy: too big to fail, not too big to take a hit. Scott Morrison and Malcolm Turnbull have landed themselves in a.
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The Federal Treasurer has urged at least one of Australia’s five big banks to break ranks and declare that they will not pass a new levy onto customers, in the hope the others may follow. scott morrison accused westpac, National Australia Bank, ANZ, Commonwealth Bank and Macquarie of "having a lend of people" over the $6.2 billion, four.
At least one major bank believes Treasury has miscalculated the new levy on banks and says it will not raise the $1.5 billion a year as forecast in last week’s budget.. Scott Morrison is also.
So it’s not a big deal if it’s losing the credit rating and they have a ten basis point hit, but if they’ve got to pay a six basis point tax, well, apparently it’s the end of financial civilisation as we know it. So look the banks don’t want the tax to come on.