Media & Speeches

Bank Tax Opponents Show Real Leadership

“We commend the South Australian opposition and crossbenchers for showing real leadership by putting local jobs first and opposing this simplistic, crude revenue grab,” Business Council chief executive Jennifer Westacott said this evening.

“South Australia faces 6.9 per cent unemployment – the highest in the country – and persistently weak economic growth that has lagged the national average for seven years now.

“South Australia’s future prosperity depends on businesses having the confidence to invest in local jobs. This won’t happen if governments keep unpredictably changing the rules of doing business.

“Australia is engaged in a fierce global competition to attract investment in local jobs. When governments suddenly announce new taxes, potential investors question whether they could be targeted next.

“I was in the UK last week. When I spoke to global investors about Australia’s sudden rash of new taxes, they shook their heads in disbelief and ridicule.

"Being a good government is tough work. Imposing surprise new taxes might seem like an easy solution, but they ultimately hurt the most vulnerable Australians by stifling job creation,” Ms Westacott said.