\u201cToday\u2019s announcement in SA is not only bad public and economic policy, it is not in the interests of South Australians. This distortionary policy could influence decisions banks make about investments in SA,\u201d he said.<\/p>\n
\u201cWe were disappointed by the Federal Government bank levy, but the SA proposal is double taxation and is a disgrace. The South Australian economy faces challenges but populism will not deliver the robust and sustainable economy South Australians deserve. As we have previously noted, there is no \u2018magic pudding\u2019.\u2019\u2019<\/p>\n<\/blockquote>\n
Having previously unveiled a similar tax in the federal budget, PM Malcolm Turnbull criticised the state Labor government move:<\/strong><\/p>\n\u201cThat\u2019s one thing to have a tax that covers the whole country, but when a state imposes higher business taxes within its own jurisdiction, is that going to drive investment, support, jobs within that state or is in fact going to make it less competitive?\u201d<\/p>\n<\/blockquote>\n