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

politics Budget bank levy will be absorbed by customers, sector tells treasury. 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". How do you not pass on a requirement for a.

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Morrison warned the banks — some of Australia’s most profitable companies — not to pass on the hit to customers as it did not apply to mortgage or deposit accounts. "If they do, take your money somewhere else, take your money to a regional or smaller bank," he said.

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.

Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says. A day after the budget.

“We’re getting the competition watchdog to ensure that the banks don’t lie to Australians about any costs they impose on their customers. “I’d also make the point that the levy doesn. big banks to.

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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.

Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says. A day after the budget revealed the levy on bank liabilities, Commonwealth Bank chief Ian Narev flagged passing the impost on to

PETER RYAN: Scott Morrison says banks will be watched closely to ensure they don’t pass on higher costs to customers. budget was delivered they might not have considered? DAVID MURRAY: Well,

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Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says.

But now, the banks’ pricing power looks set to be tested, on many fronts. That should make it harder – but not impossible – to pass on the levy to customers. they don’t like the deal from their.

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