You are here

Canberra to tighten screws on banks, raise A$6.2b in a new tax


AUSTRALIA'S biggest banks face a new tax, tougher penalties for misdeeds and efforts to spur competition as Prime Minister Malcolm Turnbull taps voter resentment against the lenders to finance infrastructure and health spending.

The government will raise A$6.2 billion (S$6.4...

Market voices on: