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Article: BROWN TAX PLAN FIASCO; Premier pledges to fight on for bank levy after snub by world's finance ministers.(News)
- Article from:
- Daily Mail (London)
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sam Fleming Economics Correspondent
GORDON Brown was last night fighting to shore up proposals for a global banking super-tax after they met international hostility.
The Prime Minister faced immediate opposition from leading countries when he opened the G20 summit with the suggestion of a tax on every banking transaction.
The Tories seized on signs of divisions within the Government over the scheme, claiming Chancellor Alistair Darling had not been adequately consulted on Mr Brown's surprise proposal.
And the suggestion of a so-called 'Tobin tax' - named after the U.S. economist James Tobin - triggered outrage in the City, with ...