9News: Federal Budget 2017-18 Preview

Budget Preview

The reason for it is that the government has got to be able to prove its economic credentials, so therefore it’s got to maintain the triple-a credit rating here in Australia. If it doesn’t do that then you’d imagine the political forces will mount against it and that’s the reason why it’s gone after the banks in a big way. That suggested tax on the big banks really is very much a soft target.  It could not only help to fund some of the victims of financial abuse but also the National Disability Insurance Scheme.

Markets

The bank shares today fell,  the Commonwealth Bank down by 3.7 percent the other banks similar, but we’ll know all of the detail in a little under an hour and a half time.

Source: 9News/Ross Greenwood

John Symond talking interest rates

Previous: Money Minute – May 9 2017 “Budget Special”
Next: 9News: Budget reveals big taxes on banks

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

1281 More posts in News category
Recommended for you
Do we need a Royal Commission into the milk wars?

Ross Greenwood speaks to Senator John "Wacka" Williams as there are calls for another public inquiry into...