House debates

Wednesday, 22 October 2008

Questions without Notice

Banking

2:57 pm

Photo of Malcolm TurnbullMalcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Hansard source

Does the Prime Minister agree with the Macquarie Dictionary that a tax is ‘a compulsory monetary contribution demanded by a government for its support’? Does he also agree, therefore, that a compulsory fee levied on bank deposits over $1 million in return for a government guarantee is not a commercial arrangement and is in truth nothing more than a new tax?

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