25 August 2017
Business SA will launch its first ever television campaign on Sunday, hoping to persuade the Premier and Cabinet that the proposed bank tax will have a negative impact on South Australia’s economy.
The ad campaign relates directly to the proposed bank levy, and we are representing our members’ opposition to what they describe as a bad tax which will punish all South Australians.
Business SA Chief Executive Nigel McBride says that in the midst of the economic challenges South Australia is facing, the Weatherill Government, without any notice or consultation, has sought to impose a new tax, targeting five of the many banks which operate in this state.
“It doesn’t matter which industry sector is targeted, it sends a message to every business investing in this state that it is open season if the Weatherill Government believes they can and should pay more,” Mr McBride says.
Mr McBride says it is unfortunate that over the past week the Weatherill Government has sought to link our Survey of Business Expectations, which has run for more than 15 years, with the business community’s opposition to the proposed bank levy.
“Our members have told us about their declining confidence in the state’s economy as operating conditions have become increasingly difficult and costs such as power prices have risen,” he says.
Business SA will continue to represent member concerns and rally against the proposed bank levy and any other levies which undermine the competitive position of any part our business community.
Business SA’s radio and television advertising campaign repeats member concerns about how damaging the levy could be to investment and opportunity in South Australia, and respectfully asks the Premier to re-consider this tax.
This campaign is not being funded through ordinary member funds. Our members, including several banks, have come forward to help fund it.