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

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.

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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.

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.

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.

The man who has to deal with that but also has to navigate the controversial bank tax through our parliament is our Treasurer Scott Morrison who joins me now. Many thanks for your time, Treasurer. Interview with Scott Morrison, Treasurer – Growth, Credit Ratings and Banking Levy. Scott Morrison: Good day Ross, good to be with you.

Scott Morrison. to pass on the cost of the levy to their customers and shareholders. But Mr Morrison insists the banks can absorb the impost. "If banks think the way to build shareholder value is.

Budget 2017: Medicare levy rise finances NDIS and banks hit for budget repair. He indicated that the banks should not pass the levy onto customers, said the Australian Competition and Consumer.

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.

Australia’ s Treasurer Scott Morrison insists he’s not expecting a fight from Australia’s big banks despite announcing a surprise levy on Tuesday night’s annual budget. Australia’s. to impose this.

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.

"The bank levy, major bank levy. doesn’t apply to regional or small banks," Mr Morrison said. "It’s not levied on. disastrous 2014 budget". The Government is facing some criticism that its.

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