‘Don’t do it’: Scott Morrison tells banks not to pass on budget levy to customers

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The budget also includes a levy on the. be excluded from the banks’ assessed liabilities. He said the measure was ‘fair’ and he urged the banks not to follow through on threats to pass the cost on.

The $6.2 billion the Government will raise through a 0.06 per cent levy on bank liabilities has been met with predictable fury from across the financial sector. [from Treasurer Scott Morrison] that.

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Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says.

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“Telstra doesn’t get that, mining companies don’t get that, Woolies and Coles don’t get that, and certainly the small business down the road doesn’t get that.” Treasurer Scott Morrison. the banks.

Treasurer Scott Morrison does not. pass on the cost of the levy to their customers and shareholders. But Mr Morrison insists the banks can absorb the impost. "If banks think the way to build.

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Continuing his budget sales job at the weekend, Mr Morrison ramped up pressure on the banks not to pass the 0.06 per cent levy – which will raise an estimated $6.2 billion – on to customers.