Bankers Attack: South Australia must stand firm on Bank Levy

The Glass Pyramid

This morning on Macrobusiness there was a call for the state governments across Australia to work together to support a Bank Levy that is distributed to the states and not Canberra.

“..The states should get band together urgently and apply a pro-rata levy right across the nation…”

This is the key.

This is really an issue of state self determination and fiscal independence.

We have a federal system of government and the constitution provides an important role for state governments and clear powers in relation to banking. Why shouldn’t the proceeds of a Bank Levy on the top 5 private banks be distributed between the states?

A Bank Levy on the big banks is good

Everyone (except the banks) agrees that a Bank Levy is appropriate so that the 5 large private banks are not getting the support of the full faith and credit of the Australian public for free…

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About sand49

I am a retired teacher who is interested in human rights, social justice, freedom of expression, and believe it is absolutely essential to have a free press for a fully functioning democracy.
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