CBA record half-year profit shows big banks can afford to pay more tax

Greens Treasury spokesperson Adam Bandt MP today said that news the Commonwealth Bank has posted another record half-year profit of $4.8 billion proves the big banks can afford to pay more tax.

“Yet again one of the big 4 banks has put away a record half-year profit, proving they can afford to pay their fair share in tax,” Mr Bandt said.

“Instead of looking at attacking our long-standing universal healthcare system by privatising parts of Medicare, the government should again look at introducing a bank deposit levy, but limit it to the Big 4.”

“The big banks are continually putting away record profits and they do this off the back of the government underwriting their activities and boosting their bottom lines by billions.”

“The Greens’ plan for a Public Support Levy on the Big 4 would raise billions of dollars of revenue each year without passing the cost on to consumers. The government should get behind our plan to help secure the country’s revenue base.”

Media contact: Adam Pulford, 0429 109 054