Federal senator Derryn Hinch has demanded an AFP investigation. Picture: AAP Image/Mick Tsikas
Federal senator Derryn Hinch has demanded an AFP investigation. Picture: AAP Image/Mick Tsikas

Banks tipped off to new tax: Hinch calls for investigation

TWO of the big four banks' bosses separately found out details of Scott Morrison's Budget plan to rip $6.2 billion from them after meetings with worried investors.

It is understood they learned of the tax more than six hours before its unveiling.

The news comes as the Australian Federal Police confirmed it was evaluating whether to investigate claims of insider trading around the Budget leak, which saw $14 billion wiped from bank shares on Tuesday afternoon.

On Thursday night, federal senator Derryn Hinch outlined details of a letter he wrote to the AFP asking for an investigation.

In a Budget reply speech, seen by the Herald Sun and set to be delivered overnight, Senator Hinch said he wanted to know if any of the short-sellers of bank stocks "had any connection with Capital Hill".

Read more at the Herald Sun.

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