The Big Picture

1 Jul 2017

Dion Hershan from Yarra Capital Management does not agree with Scott Morrison’s $6 billion bank tax, which has elicited a similar $370 million grab from South Australia. “It ticks all the wrong boxes — poor policy that’s been poorly executed, poorly explained and it sets a disturbing precedent. Banks are intermediaries, input costs like this should be passed on,” […]

Dion Hershan from Yarra Capital Management does not agree with Scott Morrison’s $6 billion bank tax, which has elicited a similar $370 million grab from South Australia.

“It ticks all the wrong boxes — poor policy that’s been poorly executed, poorly explained and it sets a disturbing precedent. Banks are intermediaries, input costs like this should be passed on,” he says. Despite this, Hershan believes the case for owning banks remains strong.

Read more from The Australian Financial Review…. (subscription required)