Author: Editor

Bank levy was not passed on: Morrison

March 15, 2018. Treasurer Scott Morrison, in Sydney, speaks about the findings from the new report by the Australian Competition and Consumer Commission (ACCC). Mr Morrison says he expected the report by the consumer watchdog to shows his government’s bank levy would not be passed on to customers as some people had feared. Mr Morrison had tasked the ACCC to monitor the banks after the government introduced a $6 billion levy on the big four retail banks and the nation’s largest investment bank, Macquarie Bank, in last year’s federal budget. Based on ACCC assessment, the levy was not passed on, but it did find in the case of the big energy companies, the banks use complexity against their customers. (AAP Video/Carol Cho)

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