Sorting the good bank levies from bad

COBA's bank levy could artificially engineer a new industry structure, and sheet the costs home to depositors. But it's an entree to the issues Joe Hockey's inquiry will have to seriously weigh up.

The naked self interest in the call by building societies and credit unions for a “modest and conservative’’ annual levy of between $1 billion and $2 billion on the four major banks is obvious. The national interest isn’t quite as clear cut.


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