Hockey still mulling Murray review

Treasurer Joe Hockey is still considering the recommendations in David Murray's financial system inquiry that he received last year.

Federal Treasurer Joe Hockey.

Treasurer Joe Hockey. (AAP) Source: AAP

Eight months after he received the final report of an inquiry into Australia's financial system, Treasurer Joe Hockey has yet to set a date for his response.

"Our response to it will be made later this year," his spokesperson told AAP on Tuesday.

However, one of the issues Mr Hockey is considering as part of his response to the inquiry may be fast-tracked thanks to the Greens.

Mr Hockey is considering exempting small banks and credit unions from a new deposit tax, that would impose a 0.05 per cent levy on every deposit up to $250,000.

The revenue would fund government guarantees on bank deposits.

The levy was originally proposed by Labor when it was in government.

The Greens will back a levy if it only applies to the big four banks.

"We've been concerned that the proposals ... to apply an across-the board-levy to all banks would just be passed on to consumers," Greens treasury spokesman Adam Bandt said in a statement.

The Greens would be prepared to support passing a "well-crafted levy" through the parliament in the next sitting fortnight.


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Source: AAP


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