Treasurer Scott Morrison has delayed the first payment of the controversial bank levy and argued that any added costs will be no excuse for the big lenders to alter mortgage or deposit rates.

In his second reading speech on the Major Bank Levy Bill in Parliament House, Morrison said the first levy calculation and instalment will be postponed by three months with the first payment now occurring on 21 March 2018. To read the rest of the article by Miklos Bolza in Australian Broker, please click here.