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

My question is addressed to the Prime Minister. I refer the Prime Minister to an answer given by the Treasurer at 2.23 pm in this House yesterday to a question as to whether the new fee for guaranteeing bank deposits over $1 million will be compulsory and to the Treasurer’s response:

The very simple answer is that the fee will be paid by all depositors in the deposit-taking institutions that are regulated by APRA, and the fee will be paid either by the depositor or by the bank.

I also refer to the Prime Minister’s subsequent observation in question time yesterday:

I stand by everything the Treasurer has said.

Prime Minister, does this compulsory deposit tax apply from the time of the Treasurer’s announcement yesterday?

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