•  Our starting point has always been that the imposition of the GST should not have an effect on wages because wage earners will gain more from the accompanying fall in income tax rates than they will lose from the introduction of the GST.
In New Zealand our 2017 stress test scenario demonstrated the potentially significant impact that a failure to comply with responsible lending obligations could have for local banks. The reputational and financial impacts of misconduct are now playing out in Australia in the wake of the Australian Royal Commission into misconduct in the banking, superannuation and financial services industry.