Big bank levy: Poll shows overwhelming support
A POST-Budget poll has revealed an overwhelming majority of Australians support the Federal Government’s new bank levy.
A POST-Budget poll has revealed an overwhelming majority of Australians support the Federal Government’s new bank levy.
The Sky News/Reachtel poll released yesterday found that 61 per cent of Australians support the levy on the nation’s five biggest banks which will inject $6.2 billion into national coffers over four years.
The poll of more than 2000 respondents found that 39.8 per cent strongly supported the levy and 22.3 per cent supported it.
Only 8.3 per cent opposed the levy and 7.6 per cent strongly opposed.
Twenty-two per cent were undecided.
In a further blow to the banks, analysis by The Courier-Mail has found that the big four have pilfered almost $2.4 billion from everyday Australians since 2011 by keeping credit card interest rates inflated.
In an act of hip-pocket hypocrisy, the Commonwealth, ANZ, NAB and Westpac have each made about $100 million a year out of the jacked-up interest rate credit card con-job.
The official cash rate has fallen since 2011 to a record low 1.5 per cent but the greedy banks have kept customer credit card rates stubbornly high, some up to 20 per cent.
Consumer group Choice last month slammed the banks for failing to pass on official interest rate cuts to their credit card customers.
Treasurer Scott Morrison said customers unhappy with the big banks should change financial institutions.
“Banks have to be honest with their customers, and if customers aren’t happy with the decisions of their bank, then they have every right to walk out the door, and take their money elsewhere,” he said.
Australian Bankers’ Association chief executive Anna Bligh has written to Mr Morrison demanding the release of Treasury modelling used to justify the tax, how much it will raise and its impact on the economy.
Commonwealth Bank chief executive Ian Narev said the banks may launch a public campaign against the levy.
He also said there was no way the banks could “absorb” the levy.
Originally published as Big bank levy: Poll shows overwhelming support