1 Min Read
SYDNEY, July 3 (Reuters) - The parliamentary opposition of the state of South Australia said on Monday it will block a controversial bank tax after the government unexpectedly announced the revenue-raising move at its annual budget.
The leader of the conservative Liberal party, Steven Marshall, told reporters his party will vote against the tax which the government said last month would raise A$370 million ($284 million) from five of the country's biggest lenders over four years.
Marshall's party has the numbers to block the tax in the state's upper house, in conjunction with cross-bench lawmakers who have already said they oppose it.
$1 = 1.3029 Australian dollars Reporting by Byron Kaye; Editing by Shri Navaratnam