Archive for December 7th, 2011
How about a super profits tax on the banks then?
Posted by John, December 7th, 2011 - under Nationalisation, Profit rates, Profits, Super profits.
Tags: Bankers, Banks
Comments: 3
So here we have the most profitable banks in the world, the big 4 Australian banks with $31 billion in profits, not prepared to pass on a 0.25% overnight cash rate reduction to their customers on their home and business loans.
Soak the bastards, Treasurer. Hit them with a super profits tax, or threaten to do that.
And when they claim that that would impact on their costs of lending and would need to be recouped, threaten them with interest rate controls and mention you might set up a people’s bank. Oh, I forgot, we used to have one of them until the previous Labor Government flogged it off.
Maybe we should nationalise the banks under workers’ control instead.