Treasurer Jim Chalmers is considering hitting banks with a new regional bank levy to help keep branches open in the bush. Ahead of next year’s close election, political considerations are at stake. In May, a Senate inquiry recommended increasing the existing $1.6 billion annual bank levy by 10% to pay for government-funded storefronts that provide in-person banking in rural and regional areas.

(The original levy was imposed by then-treasurer Scott Morrison on the big banks in 2017 to help fix the budget and “because nobody likes you”.)

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