SA vows to push ahead on bank tax

The South Australian government has vowed to push ahead with its controversial bank tax.

South Australian Premier Jay Weatherill has vowed to push ahead with the state government's controversial tax on the big banks ahead of a key debate in state parliament.

The budget measure is facing possible defeat in parliament's upper house with the Liberal opposition and some independents vowing it will not get their support.

The banks have also continued their campaign against the tax which they say will have a big impact on business investment in SA.

But Mr Weatherill says the government hasn't given up on passing the legislation, which is set to be debated next week as part of the wider budget measures bill.

"We're obviously trying to persuade the crossbenchers to pass the legislation," he told reporters on Friday.

"It is an extraordinary decision the Liberal Party have taken to block the budget."

The premier also brushed off the continued campaign against the tax from the banks, including newspaper and television advertisements.

"The more that they actually ramp up their campaign, bagging our state, the more people realise they can't pass on this tax to ordinary South Australians," he said.

"They know they can't pass this tax on and that's why they're screaming so loud."

The Labor government hopes to raise $370 million over four years from the ANZ, Westpac, Commonwealth, NAB and Macquarie banks under the proposed tax.

The measure is similar to the federal government's bank levy.


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Source: AAP



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