The head of Australia’s largest bank launched a stinging attack on global tech giants such as Apple, saying their “economic miracle” returns and market power were not subject to the same scrutiny applied to local rivals.

In a broadside backed up by former treasurer Peter Costello, Commonwealth Bank chief executive Matt Comyn said while banks and supermarkets got plenty of heat from Canberra for their pricing and profits, there was nowhere near the same level of examination of profit margins and tax contributions of global technology players.