'No rift' between Britain and IMF
US Treasury Secretary Timothy Geithner (left), British Chancellor of the Exchequer Alistair Darling, and French Finance Minister Christine Lagarde at the G20 meeting in Scotland on Saturday.
Monday November 09 2009
MEDIA reports suggesting a split between the International Monetary Fund (IMF) and Britain on the idea of a levy on international financial dealings were wrong, IMF managing director Dominique Strauss-Kahn said yesterday.
This followed comments from British Prime Minister Gordon Brown which appeared to support the idea of a "Tobin tax" -- an across-the-board trading tax -- on specific transactions.
"We're not working on a Tobin tax at the IMF," Mr Strauss-Kahn said.
He said a levy would be in line with the proposal by Mr Brown, who urged world governments to consider imposing a tax on banks -- one of several options, floated by him.
"We're working on a tax on the financial sector which would solicit an insurance premium from a business activity that is riskier than others," Mr Strauss-Kahn said.
The IMF will present concrete proposals for the tax next April to finance ministers of the Group of 20 leading economies, for review. (Reuters)
- Brian Love
Irish Independent
