“The South Australian parliament has a golden opportunity to begin restoring their state’s reputation among investors as it considers the state government’s ill-conceived bank tax this week,” said Business Council chief executive Jennifer Westacott today.

“This state has so much potential, but unexpected tax grabs like this signal to investors that South Australia is hostile to business investment.

“South Australia’s 5.8 per cent unemployment rate is above the national average and persistently weak economic growth has lagged the national average for seven years now.

“South Australians need their leaders to support policies that increase investment in local jobs. This bank tax will do the opposite.

“South Australian senators can also support investment in local jobs by backing a competitive company tax rate in the federal parliament.

“If the South Australian government is serious about keeping young people in the state, serious about creating a prosperous economy and serious about creating local jobs, they will not pass this bad tax.”