In a stunning about-face, the Weatherill Government today dumped its bank tax – and sent its budget back to the drawing board – declaring the controversial revenue measure “dead”.
The bank tax standoff has escalated into a high-stakes game of political brinkmanship that will likely set the tone for the forthcoming state election campaign, writes Tom Richardson.
Business SA has doubled down on its bank tax attack in the face of Labor critiques, and is poised to unleash a new wave of propaganda – with financial support from the big five banks – against the controversial budget measure.
Outspoken former Treasurer Kevin Foley has unleashed a social media tirade against opponents of the Weatherill Government’s bank tax, declaring former Queensland Premier turned Bankers Association boss Anna Bligh “destroyed” her state’s Labor Party, and calling Business SA an ineffectual “squawk box” whose members should abandon it.