4 ms·
That causes lower profits, so won't be affected by windfall tax.
by gowld 3y ago
That causes lower profits, so won't be affected by windfall tax.
- bko 3y agoMaybe they won't but new competitors will see the outsized profits and try to get my business by offering these things. I have all these things at my bank (TD) so the system seems to work. This is pretty uncontroversial basic economics...
- ilyt 3y agoHow often you see "new competitors" in banking come up now ?
- bko 3y agoNot often enough. You've seen the reverse due to high regulatory costs. If you're a healthcare provider in the US you often have to get a "certificate of need" to offer a service where a board full of competitors in the neighborhood determine if the neighborhood really "needs" this service: > CON programs primarily aim to control health care costs by restricting duplicative services and determining whether new capital expenditures meet a community need. https://www.ncsl.org/health/certificate-of-need-state-laws https://www.ncsl.org/health/certificate-of-need-state-laws