Business

Federal Budget news

'Policy concocted on the run': CBA boss slams bank tax

CBA chief Ian Narev

CBA boss Ian Narev has slammed the government's budget bank levy as an "opportunistic tax grab" and "policy concocted on the run" and warned that the cost would have to be borne by either customers or shareholders.

Housing affordability measures 'more a feather than a scalpel'

Treasurer Scott Morrison addressed the National Press Club in the Great Hall at Parliament House in Canberra.

A first home buyer would only save an extra 1 per cent of the median property price in Sydney or Melbourne under the government's new super deposit scheme, analysis of the federal budget has revealed, as economists question the impact of the policy in areas most targeted by the Turnbull government.