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‘Don’t do it’: Scott Morrison tells banks not to pass on budget levy to customers

Scott Morrison has rejected a last-minute plea from the banks to impose a sunset clause on the governments 6.2 billion levy on the sector, as Treasury conceded it assumed the impost would be.

Treasurer Scott Morrison had pleaded with the banks not to pass the levy costs on to customers, telling executives the public "already don’t like you very much".

Federal budget 2019: Updates & summary, tax cuts, news Australia Federal Budget 2017 Breakdown: How it affects you personally. Scott Morrison’s 2017 Federal Budget was one that aimed its sights at both the top Budget 2017 : Big banks anger at new $6.2 billion levy .

Mortgage Rates Improve Moderately On Greece Concerns in the run-up to Greece’s EMU membership market interest rates dropped significantly, which exerted further downward pressures on mortgage interest rates. As a result, the floating8 nominal interest rate on housing loans declined from 20% at the end of 1993, to 3.9% at the end of 2005 (see Figure 3).

The Treasurer went on to challenge the big four banks to garner people’s support by publicly vowing not to pass on the levy to customers through interest rate rises.

Continuing his budget sales job at the weekend, Mr Morrison ramped up pressure on the banks not to pass the 0.06 per cent levy – which will raise an estimated $6.2 billion – on to customers.

Scott Morrison has called on the big banks to accept the new $6billion levy without passing it on to customers ‘The ACCC, our regulator, will keep close eye on the banks to make sure they’re not.

While the regulator does not have the power to stop banks from defying the Government’s demand to pay the levy. Treasurer Scott Morrison accused banks of using a "voodoo black box" to cloud the.

Australian Treasurer Scott Morrison has urged the nation’s banks not to pass on a large new tax to their customers. Australia’s five biggest banks were the biggest losers in Mr Morrison’s budget.

Interview with John Laws, 2SM. subjects: budget 2017. john laws: The Treasurer Scott Morrison has delivered the Budget overnight and, hopefully, he’s on the line. Scott Morrison, good morning.. It’s not a levy on bank customers at all. I mean there was a bank deposits tax.

Mortgage rates today, July 5, 2018, plus lock recommendations Interest rates at the end of last year were inching close to 5%, the highest they have been in the past eight. EPS = EARNINGS PER SHARE. One plus in these results is that the company’s revenue and.

But he implores them not to pass on budget pain to customers.. Scomo To Banks On Likeability: ‘We Feel Your Pain’. Morrison tells the banks not to pass on the levy.

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Those are the fears spelt out by the Commonwealth Bank as Treasurer Scott Morrison stares down the country’s largest banks over the .2 billion tax due to start in July.. banks not to pass.

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