Gordon Brown hopeful of global bank tax agreement

Leading economies are close to reaching an agreement regarding a global bank tax, Gordon Brown has said.

Speaking in an interview with the Financial Times, the prime minister stated that Downing Street is hopeful the G20 summit in Canada in June will result in a deal being included.

’People are now prepared to consider the best mechanism by which a levy could be raised,’ Mr Brown remarked, adding that US president Barack Obama’s call for a levy on financial institutions in the country has helped improve backing for a global tax.

’I’m interested in the way support is building up for international action,’ the prime minister was quoted as saying.

According to the news source, introducing such a tax could cost the financial services sector billions of pounds every year.

Yesterday saw the launch of a campaign to introduce a so-called ’Robin Hood tax’, which has the backing of around 50 organisations and would impose a levy on transactions carried out between banks.ADNFCR-2318-ID-19610405-ADNFCR