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Banks Plan To Make YOU Pay their $6.2B Budget Levy

Passing costs on to borrowers

Banks Plan To Make YOU Pay their $6.2B Budget Levy

Bosses of our big banks are *not happy* about being hit with a $6.2 billion levy to help fill a Budget black hole...

They're suggesting they may pass the cost on to borrowers, with an interest rate hike of 0.2%.

Of course it's sparked anger among customers, since our banks are among the most profitable in the world.  

Treasurer Scott Morrison's told the banks to just absorb the costs: "Give me a break, that's what Australians will be saying," he says.

While Malcolm Turnbull has told Aussies to ditch their bank, if they dare to pass the costs on through increased interest rates and fees.

The bank CEOs will meet with Treasury officials in Sydney today.