Banks aren't telling the truth
Treasurer Scott Morrison says banks have no reason to pass on the bank levy. Follow live as we bring you all the latest from Canberra on the day after Scott Morrison's second budget.
Treasurer Scott Morrison says banks have no reason to pass on the bank levy. Follow live as we bring you all the latest from Canberra on the day after Scott Morrison's second budget.
The Turnbull government has embarked on a $75 billion infrastructure spending spree in a bid to kick start economic growth.
Treasurer Scott Morrison's budget reveals the depth of rancour toward Australia's big banks and those who run them.
It taxes big, spends big, builds big, looks after the needy – and it belts the banks.
Senior ANZ economist Cherelle Murphy says the government has stuck to its word with the 2017 budget.
Australia's big four banks are bracing themselves for a new tax on balance sheet liabilities in the budget which is said to raise $6 billion over four years.
Workers and major banks will bear the brunt of a $21 billion tax hike to fund a budget that jettisons billions in politically damaging spending cuts, spends big on health, infrastructure and schools.
Malcolm Turnbull and Scott Morrison have enlisted the powers of the good, the bad and the ugly to not just completely reset the budget after the nightmare of 2014 but its own political prospects.
Bank bosses will be banned and face having their bonuses stripped under populist and far-reaching new laws.
First-home buyers will be allowed to use up to $30,000 of voluntary superannuation contributions to buy a home.
There is little in this budget about incentives-based economic reform to help structural change and reform that looks at outcomes rather tha...
Enjoy unlimited access to Australia's best business news and market insights across desktop, tablet and mobile
Already a subscriber? Log in