Global Bank Tax Near (Obama World)
Gordon Brown said on Wednesday the world’s leading economies were close to agreeing a global bank tax, amid hopes in Downing Street that a deal can be concluded at the G20 summit in Canada in June.
Mr Brown believes that opinion has shifted decisively in favour of a globally co-ordinated tax after President Barack Obama’s move last month to raise $90bn (£57.7bn) from a US bank levy.
Gordon Brown The tax could cost the financial services sector tens of billions of pounds a year.
The prime minister has strongly advocated some kind of charge on banks. “I’m interested in the way support is building up for international action,” he said in an interview with the Financial Times.
Last year, Mr Brown mooted a tax on bank transactions – a so-called Tobin tax – as one of a number of options to make sure the “contribution banks make to society is properly captured”.
(Excerpt) Read more at ft.com …
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