'Harsh' budget bank levy will be passed on to consumers: market analysts

Investors and market analysts say the federal government’s levy to be imposed on the six largest banks was harsh and would hurt profits but expected depositors and customers to ultimately fit the bill.

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Treasurer Scott Morrison unveiled the levy on the liabilities of the biggest five banks would raise $6.2 billion over four years as part of Tuesday night’s budget.

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Read the full article on Australian Financial Review.

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