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Bankers split as Chalmers kicks off branch levy negotiations

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Top bankers are split over a mooted $350 million annual levy to keep branches open in the bush, with Commonwealth Bank of Australia chief executive Matt Comyn emerging as a pragmatic supporter of Treasurer Jim Chalmers’ proposal to spread the burden among all the banks.

Bank leaders gathered in Canberra for the Australian Banking Association’s council meeting on Tuesday and Wednesday, amid industry angst about the potential new levy suggested by Treasury last week and first revealed by The Australian Financial Review.

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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/bankers-split-as-chalmers-kicks-off-branch-levy-negotiations-20241120-p5ks7d