Governments are allowed to announce policies you know. And they are certainly allowed to impose new imposts and taxes. That's what government's do to keep the country running. Impose taxes. So the hue and cry about the threat of another one on banks, like the last one on cars, and a long ago one on mining, should be put in context.

On the other hand, governments are expected to behave rationally and, though it is not compulsory, it is hoped they will act with a modicum of consultation. 
So take your pick on whether the new Rudd government is showing signs of being just like the Mark 1 version that brought us the mining tax debacle, the more recent FBT leased car controversy and now, if reports are to be believed, a repeat with a banking deposit levy.

While I am no fan of this PM or government, I was in favour of a mining tax which was actually supported during the Henry tax inquiry by many of their own people to replace the unappealing royalties system. But it was clumsily and hastily implemented. That was the same accusation about the recent FBT on cars issue which should have been welcomed by all sides as stopping a rort. You really have to learn how to sell these things pollies.

It will now be interesting to see how the mooted banking levy, or tax, is handled.

It should be noted that Joe Hockey has also engaged in bank bashing when it suited his populist tendencies but I'm sure he will just bash whatever is proposed by the Government even though this one was suggested by financial regulators. And it is common overseas.

It is safer to just slug smokers – even if they do vote.

Janine Perrett