Media release

The South Australian Business Chamber Welcomes Bank Tax Defeat

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The South Australian Business Chamber Chief Executive Nigel McBride Has Welcomed The State Government’s Decision To Withdraw The Bank Tax From The Budget Bill.

Mr McBride Praised The Weatherill Government For Recognising It Did Not Have The Support Of The Parliament And Would Now Remove The Bank Tax From The Budget Bill.

We welcome the announcement and consider this a victory for common sense, and a recognition that one way or another, all South Australians would pay for the now-defeated tax,” Mr McBride said.

At a time when we have so many other priorities in our economy such as jobs, export growth and population growth, let’s leave this political distraction behind and focus on what really counts.”

Mr McBride said the Premier and Treasurer had repeatedly said the focus would now be on job creation, as they re-shaped the budget over the coming weeks.

We welcome the comment from the Treasurer that he is a friend of small business”.

He can now re-gain some credibility in that statement, by withdrawing his threat to punish small South Australian employers with an increase in payroll tax.”

Mr McBride said small and medium-sized businesses were the engine room of the state’s economy, and needed payroll tax concessions to ensure they would be competitive nationally. Paying a lower amount of payroll tax also allowed them to take on more staff and re-invest in their operations.

He also acknowledged the courage of Dennis Hood, Robert Brokenshire, John Darley, Steven Marshall and his Opposition colleagues, who he said had had the courage to stand up for South Australians and what was best for the state’s economy”.

The Weatherill Government has said it will not take the tax to the state election nor reintroduce it after the Election should they form government, and we will hold them to that,” Mr McBride said.

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