Essential Report

Bank Levy

May 30, 2017

Q. The recent Federal Budget contained a levy on the big banks, which is forecast to raise $6.2bn from Australia’s five largest banks over the next four years, but will not apply to smaller banks or foreign banks who operate in Australia. Who do you think the bank levy should be applied to? 

  Total   Vote Labor Vote Lib/Nat Vote Greens Vote other
Large Australian banks only 12%   16% 12% 15% 8%
Large Australian banks and foreign banks operating in Australia 48%   46% 52% 50% 59%
Small and large Australian banks and foreign banks operating in Australia 16%   16% 18% 13% 17%
The levy should not apply to any bank 10%   10% 9% 10% 9%
Don’t know 14%   12% 8% 13% 8%


48% thought the bank levy should be extended to include foreign banks operating in Australia, but not smaller Australian banks. Those most likely to think this were those aged 65+ (59%) and other party/independent voters (59%).

Overall, 64% thought that the bank levy should apply to foreign banks operating in Australia.


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