South Australia's peak business body is taking its fight against the state government's bank levy to prime time.
From Sunday, Business SA will run television commercials criticising the tax.
They follow a concerted media campaign, including TV ads, from the Australian Bankers' Association.
Business SA chief Nigel McBride says the levy undermines the competitiveness of the business community by driving investment interstate.
"It doesn't matter which industry sector is targeted, it sends a message to every business investing in this state that it is open season if the government believes they can and should pay more," he said.
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But the gloomy forecast was at odds with the billions of dollars invested in South Australia from companies such as Tesla, BHP and Macquarie Group since the announcement of the levy, Treasurer Tom Koutsantonis said.
"Recent economic reports from NAB, ANZ, Commonwealth Bank and Westpac have also showed business confidence, growth and investment is strong in South Australia," he said.
Mr Koutsantonis said he understood the campaign being broadcast by the industry's lobby group.
But he said Business SA should be focused on a positive outlook for local companies.
"Not talking down our state for the benefit of five east coast banks," the treasurer said.
The commercials are being funded by Business SA members, including several banks.
