Ross Barker, chair of the Australian Foundation Investment Company (AFIC), is the latest rent-seeker to whine over the Turnbull Government’s 0.06% levy on the liabilities of the Big Four banks and Macquarie, labeling it unjustified and ‘piecemeal’ policy. From The Australian:
Speaking on behalf of the Australian Foundation Investment Company, which has more than 120,000 shareholders — many of them retirees — he said yesterday the bank tax reflected the “piecemeal policy’’ emerging from the federal government as it avoided the hard work of economic reform and the nation muddled through until the next crisis.
