G20 hears of plans to tax banks

Kazakhstan News.Net
Saturday 7th November, 2009

British Prime Minister Gordon Brown has called for serious consideration of a levy on financial activity.

He has told bankers and finance ministers from the Group of 20 rich and developing nations the levy is needed to help ensure the banking system doesn’t go through another crisis.

The prime minister said the levy would be complementary to existing action to stabilize the world economy.

Speaking on Saturday, Mr Brown said Britain would not make such a move alone but would only impose the tax or fee as a global agreement.

Have your say on this story