Brown says global bank tax is close
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Prime Minister Gordon Brown has revealed that world economies are close to agreeing to a global bank tax.
In an interview with the Financial Times, Brown says world leaders are coming close to a co-ordinated tax after President Obama set out plans for a US bank levy last month.
Brown says he hopes a deal can be brokered by June and says he thinks it will be different to Obama’s 0.15 per cent annual levy on deposit holding banks.
Brown told the FT that banks with the “broadest shoulders” should pay more tax, but said any global tax will have to make sure the “contribution banks make to society is properly captured”.
He also says that there is no “disagreement” between himself and Chancellor Alistair Darling with regard to the speed at which the Government plans to cut the £178bn deficit.
Brown also hinted that Darling may be able to increase spending in some areas in the next Budget should economic data prove to be more positive than expected.
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