Imagine for a moment the reaction of the banking sector if the government said:-
"look we know we are going to grab at least $10 billion off you, but we aren't sure which of you are going to pay it, or how we are going to grab it off you... or if we might need to grab some more in case we got the numbers wrong"
What impact would that have on share prices and stability?
The underlying message here is that "we have no plans to make you successful, but if you are successful we will take it off you to give it to those who are not".
As abhorrent as it is to some on here, Australia needs both the banking industry and mining industry to be as successful as it can be in order for the taxation benefits currently in place to continue. What this government needs to do is level the playing field for competitors to ensure that these industries are as non-monopolistic as they can be, to ensure fair competition and diverse growth. It appears that no side of politics has any interest or plans to break the monopolies .. only to cash in on their success.
