Wasn't that crash hot on this one because I mainly thought expenses would just be shifted on to consumers. I'd swallow it if maybe some assurances it wouldn't be. On the other side of the argument it really was a tiny amount and if taxpayers foot the bill of a (potential) bank bailout there is some policy rationale for them to pay premiums for the insurance.
The completely illogical thing is the back flip. Both sides had agreed and it was even in forward projections of the Budget. The ONLY reason they'd back flip is Abbott wanted to wedge Labor on tax. Unsurprisingly, look at the quotes of the presser;
"The last way to make our banks strong, the last way to protect depositors is to hit banks with more taxes," he said.
"That's the Labor way, it's not the Coalition way. So, Labor's bank deposit tax is dead."
*sigh*
You couldn't make it up. Just day to day policy on the run, not governing for a greater good but trying to divide and wedge your opponent. Why the senior Libs still put up with this I'll never know. A cancer on political discourse and bipartisanship.
