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‘Don’t do it’: Scott Morrison tells banks not to pass on budget levy to customers

politics Budget bank levy will be absorbed by customers, sector tells Treasury. Treasurer Scott Morrison had pleaded with the banks not to pass the levy costs on to customers, telling executives the public "already don’t like you very much". How do you not pass on a requirement for a.

Home Sales on Fire as Mortgage Rates Simmer Mortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday’s levels.. (MBA) released its regular monthly estimates for new home sales on Thursday and also.MBS RECAP: Bad Day, Good Week, Flat Month Ultra Low Mortgage Rates + Full Employment = ? – The Big Picture "It’s a treading-water jobs report. 30-year mortgage rate is a rock-bottom 3.34%, according to mortgage giant Freddie Mac. It’s also good news for stock investors, because lower rates make stocks.Mortgage rates today, August 7, 2018, plus lock recommendations Results from the Bank of England’s latest stress tests were out on Wednesday, and they put the tested banks under a simulated crisis that involved a rise in base rates to 4%, a 4.7% reduction..The week started with a nice bounce back from the lows we experienced the week before. Wednesday was a bad day for rates as the MBS market sold off, giving back the gains from Monday and Tuesday. Thursday continued the sell off slightly, until we saw a reversal and a positive day for pricing on Friday.Mortgage rates today, March 27, 2019, plus lock recommendations seattle mortgage rates today, March 27, 2009 – Seattle. – Seattle Mortgage Rates Today, March 27, 2009 “Calm before the Storm” with major economic data being released and the ruling on Mark to Market accounting, financial institutions, Wall Street and economists all await to see how the market and economy will react. Many are hedging that the modification will be a positive shift to free up liquidity and allow the banks to begin to lend not only.

Anna Bligh says every Australian will have to pay for levy on the big banks. Australia’s Banking Association ceo anna bligh slammed the move and said that every Australian will have to pay for Treasurer Scott Morrison’s levy. Ms Bligh also said there had been no consultation with the industry ahead of the shock move.

The Federal Treasurer has urged at least one of Australia’s five big banks to break ranks and declare that they will not pass a new levy onto customers, in the hope the others may follow. scott morrison accused Westpac, National Australia Bank, ANZ, Commonwealth Bank and Macquarie of "having a lend of people" over the $6.2 billion, four.

Treasurer Scott Morrison has slapped down a demand by the banks that the new $6.2 billion tax be lifted as soon as the budget was back in surplus, saying the major bank levy would be permanent.

Continuing his budget sales job at the weekend, Mr Morrison ramped up pressure on the banks not to pass the 0.06 per cent levy – which will raise an estimated $6.2 billion – on to customers.

What the Trump Effect Means for Mortgage Rates Next Year and 5 Years From Now In the week following the election, mortgage rates soared nearly half a percentage point. average weekly 30-year fixed home loan rates are back over 4% for the first time since July 2015.

As the banks continued to attack the Turnbull government over the $6.2bn levy, Xenophon called for the government to go wider than the big five Australian banks and haul in foreign banks. He said it should apply not just to the Commonwealth, National Australia Bank, ANZ, Westpac and Macquarie Bank but to foreign banks of a similar size – BNP.

Australian Treasurer Scott Morrison has urged the nation’s banks not to pass on a large new tax to their customers. Australia’s five biggest banks were the biggest losers in Mr Morrison’s budget.

Banks have been warned not to pass on to their customers a new $6 billion levy being imposed by the government to balance the federal budget, Treasurer Scott Morrison says.