House debates Questions without Notice

Banking

Wednesday, 22 October 2008 House of Representatives

Ms Julie Bishop

Ms Julie Bishop Curtin, Liberal Party, Deputy Leader of the Opposition

2:48 pm

My question is to the Treasurer. I refer the Treasurer to the deposits tax announced by the Treasurer a moment ago, which he said will apply to all banks’ deposits over $1 million whether the banks or the depositors want it or not. Why is this deposit guarantee compulsory and will this deposit tax be the same regardless of the bank’s credit rating?

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