Bank risk levy gains support

| 31/01/2010

(BBC): An insurance levy on financial institutions to help bail out banks in any future financial crisis has been backed at the World Economic Forum. Politicians and bankers have expressed support for the idea, while the International Monetary Fund (IMF) has described it as "practical". The levy would go into a fund which could be used to bail out the banks instead of taxpayer money. Governments across the world have spent billions of dollars saving banks. The insurance levy is seen by many as a more realistic option than a tax on financial transactions, often referred to as a "Tobin Tax", which has been discussed but has proved unpopular in some quarters.

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