Posted June 27, 2017 19:18:53

Photo: Liberal leader Steven Marshall appeared to change his tune after meeting with ANZ executives. (ABC News)

The South Australian Liberals may still oppose the State Government's new banking levy despite earlier indicating they would not oppose the budget measure.

On Friday and over the weekend, SA Liberal leader Steven Marshall indicated the party would not oppose the measure to impose a 0.015 per cent impost on 6 per cent of major banks' liabilities, despite a push from the Australian Conservatives to block the bill.

But after meeting with senior ANZ executives who today flew in to Adelaide to lobby the Government against the tax, Mr Marshall said the Liberal Party room was yet to land on a firm position.

"We have to make a decision that's in the best interest of all South Australians," he said.

"And that's what our party room will be considering."

The new levy effectively doubles the impact of the Commonwealth Government's own tax within South Australian borders.

ANZ chief executive Shayne Elliot, who today met with Premier Jay Weatherill and Treasurer Tom Koutsantonis as well, last week lashed out at the SA levy.

The new bank tax aims to raise $1.5 billion a year for the next four years. Who's really paying for it?

"The deeply concerning tax would likely impact business investment in South Australia when its economy is struggling with low growth, low business confidence and high unemployment," he said.

"All businesses will rightly question the political risk associated with investing in a state with a Government prepared to unfairly target an industry that has played a significant role in supporting its lagging economy.

"South Australia does not need another drag on its economy after the repeated power failures over the last few years."

Mr Weatherill said he and Mr Koutsantonis exchanged views with Mr Elliot on the bank levy, "and agreed to maintain an open dialogue".

Topics: banking, tax, adelaide-5000, sa