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"Brown retreats on tax plan", the Financial Times splashed yesterday. Balderdash, riposted Downing Street, or words to that effect: "We are resolute." Full Article at Guardian Unlimited
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Welcome to 'Letters From A Tory', covering British politics from a conservative perspective. Full Article at Letters from a Tory
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PARIS - The International Monetary Fund is exploring the idea of making banks pay insurance fees to fund any future rescues in the sector, IMF managing director Dominique Strauss-Kahn said on Sunday. Full Article at Financial Post
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Levying a "transaction tax" on the frenzied activities of City traders and their rivals in the world's financial markets is not a new idea, but it may be one whose time has come. Full Article at Guardian Unlimited
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Gordon Brown suffered a rebuff from Washington yesterday after he signalled Britain's backing for plans for an international transactions tax on banks to help the world recover from the financial crisis. Full Article at The Independent
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It’s a question of fairness. I think there is broad agreement we should look at these things. They are not easy. But if you don’t look at them, you won’t know.
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If we put the brakes on too quickly we will weaken the economy and the financial system, unemployment will rise, more businesses will fail, budget deficits will rise, and the ultimate cost of the crisis will be greater
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He is very clear that institutions rather than individuals should bear the cost of this
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We have talked to the Americans, just as we have talked to others – there are other countries too that are interested in looking at this
