The South Australian Business Chamber CEO Nigel McBride today applauded SA Liberal Leader Steven Marshall’s reconfirmation to the Parliament that he would block the SA Bank Tax. Mr Marshall has clearly listened to the concerns of households and businesses on the cost of the tax and the damage it would do to the economic reputation of South Australia.
Mr Marshall noted that the South Australian Business Chamber was strongly opposed to the bank tax on the basis that it would be bad for businesses, households and all South Australians.
“Mr Marshall has also rightly pointed out the urgent need to reverse South Australia’s economic decline by controlling government spending and reversing new taxes and regulation that are strangling economic growth in our state,” Mr McBride said.
“Our state is falling badly behind with less than half the rate of growth of the rest of Australia, our unemployment rate is the worst in mainland Australia, our energy prices are now cited as the highest in the world, and our population growth has slowed and could soon be in major reverse.
“At a time when South Australia urgently needs new investment to create new industries and jobs to compensate for the impending closure of Holden, it would have been disastrous to threaten this with a banking tax that could have diverted capital from the State.
“We simply don’t need any more new taxes that give businesses a clear signal not to risk investing in South Australia.
Mr McBride said he was disappointed that the Premier had been so quick to dismiss the concerns of the South Australian Business Chamber, the State’s peak chamber of commerce and leading employer organisation, supported by 10 key industry associations, which together speak for thousands of South Australian businesses and employers in opposing the tax.
“The employers we jointly represent employ several hundred thousand South Australians across nearly every industry sector and we want to send a message that the SA Government cannot tax and spend its way to economic growth.”
Mr McBride said he also welcomed the renewed commitment by the three cross benchers in the Legislative Council to also oppose the bank tax, and called on all MPs, in both the Legislative Assembly and Council, to put South Australia’s future first and vote against the new tax.
“I am confident that with the right economic policies, our skilled workforce and attractive lifestyle, and our natural assets, South Australia can restore its competitiveness and begin to build sustainable economic growth and jobs again.”
