(21 February – Australia) The federal government will not introduce a banking transaction tax, says Treasurer Wayne Swan.The issue was ‘floated and discussed’ at the latest economic leaders meeting in Paris, Federal Treasurer Wayne Swan, who attended the G-20 meeting, said.
But the government won’t apply the proposal to Australia’s banking system.
‘We are not looking at any such tax,’ Mr Swan told Network Ten, speaking from Paris.
There’s a ‘world of difference’ between the banking system and mining, Mr Swan said, referring to the proposed Mineral Resource Rent Tax (MRRT).
‘Mining uses the resources owned by the Australian people for which a fair fee or royalty or rent should be paid.’
‘We are not moving in that direction in the banking system.’