The South Australian state government announced in late June 2017 that it was going to follow the Federal government and introduce a levy on the big banks. Episode 19 of Follow The Money, explains why the banks can absolutely afford the levy, why it’s a good idea economically and just how small the levy really is compared to — for example — the salaries of the CEOs of the big 4 banks.

Host: Deputy Director Ebony Bennett // @ebony_bennett

Contributors: Chief Economist Richard Denniss @RDNS_TAI  // Senior Economist Matt Grudnoff @MattGrudnoff  

Producer: Jennifer Macey // @jennifermacey

Title Track: Jonathan McFeat // pulseandthrum.com

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Australia Institute research on the bank levies: 

• The South Australian bank levy
• Of levies, profits and backstops: the bank tax in context
• Bank levy to have minor impact on average Australians

You can subscribe to The Australia Institute’s podcast series Follow The Money on iTunes. Each episode busts some economic myths, interprets econobabble and helps you sound really smart at your next dinner party.