Australian Conservatives MLCs Rob Brokenshire and Dennis Hood have won the standoff with the SA Labor government over their economically destructive state-based bank tax.
The ABC reports that minutes before the tax was due to be voted down in the Legislative Council, the Premier declared that the government would no longer be proceeding with the budget measure.
The Institute of Public Affairs in this press release said "The bank tax would have crushed investment, job creation, and growth in South Australia. It’s good that it has been abandoned."
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