Vic Greens call for bank levy to fund cost-of-living relief after interest rate hike
Australian Greens Victoria
The Victorian Greens have renewed their call for a levy on the big banks to fund cost-of-living relief, after the Reserve Bank today increased interest rates by 25 basis points to 4.6%, the highest cash rate since 2011.
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“The independent Parliamentary Budget Office estimates the levy would raise $11.5 billion in its first four financial years, with annual revenue growing to more than $4.4 billion by 2036–37.”
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