The budget's lesson for bank shareholders

By Scott Phillips
Updated June 4 2017 - 9:43am, first published May 11 2017 - 4:57pm

Bank shareholders got a rude shock on budget night. Seemingly from out of the blue, Treasurer Scott Morrison decided that the big banks should pay a little more in tax. A very little more - at least as a proportion of their liabilities - at 0.06 per cent. But, according to some analysts, that's about 5 per cent of those banks' bottom lines.

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