Fake Premier Bligh cops it from all sides

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Fake Premier Bligh is in hot water at the ABA:

The split within the Australian Bankers’ Association’s appears to have deepened, with morning briefings between its head Anna Bligh and industry executives on the bank tax being cancelled.

The cancellation comes as Anna Bligh denied she has received complaints from smaller banks.

The ABA had been holding 7am briefings for 30 minutes on its strategy to campaign against the tax with Ms Bligh and the association’s 25 members banks heads of government and corporate affairs. The meetings outlined Ms Bligh’s political and media tactics for the day as part of the ABA’s defence.

The briefings had been booked into executives’ diaries for at least a fortnight but were cancelled this week by the ABA without an explanation.

Treasurer Morrison weighed in:

Mr Morrison also took a potshot at Australia Bankers’ Association chief executive officer Anna Bligh, who is leading the assault on the government over the $1.5 billion-a-year tax to be imposed on the big four plus Macquarie. Mr Morrison noted that most of the small banks in Australia supported the tax, because it helped even the playing field, and the ABA was supposed to be representing them as well.

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According to the ABA::

Anna Bligh, Chief Executive Officer, who is supported by a team of senior public policy staff. Anna started in the role in April 2017 and is focused on strengthening trust and confidence in banking and delivering better outcomes for customers.

So why is she doing the precise opposite? The bank levy is a perfectly reasonable fee to taxpayers for guaranteeing the banks liabilities, and a pro-competition measure to boot.

Nobody likes a Judas, least of all a usurious one. She should be sacked before more harm is done to bank’s social licence.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.