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 OZschwitz banks' plea to govt: No more red tape

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OZschwitz banks' plea to govt: No more red tape Vide
PostSubject: OZschwitz banks' plea to govt: No more red tape   OZschwitz banks' plea to govt: No more red tape Icon_minitimeThu Oct 08, 2015 2:34 am
Australia's banks are urging the government not to impose more red tape and taxes as part of its long-awaited response to the financial services inquiry.

The government was handed the inquiry's report by former Commonwealth Bank boss David Murray in November 2014.

A response had been expected in late September, but the ousting of prime minister Tony Abbott by Malcolm Turnbull has delayed the government's reply.

Also read: Banks are training us to embrace their competitors

The Australian Bankers' Association hopes that when the response is finally unveiled it won't contain measures that may hamper the industry's ability to support the economy.

Chief economist Tony Pearson says the industry backs the government's push for reform, but it must protect the ability of banks to finance home and business loans as well as pay taxes, interest on savings accounts, and dividends to shareholders.

https://au.finance.yahoo.com/news/banks-plea-govt-no-more-130508190.html
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