This must be a new record for the speed of a tax hike. On Monday 19 June, the federal parliament passed legislation implementing the major bank levy. And yesterday — just four days later —the South Australian government announced it would slap its own additional levy on the same banks.

The federal government promised the levy wasn’t going to increase. But that promise didn’t last long… perhaps another record.

Who knows where this will end, with the South Australian government suggesting other states should follow suit. Perhaps