British prime minister snubbed over tax plans

| 09/11/2009

(Telegraph): Gordon Brown is facing international embarrassment after leading nations slapped down his proposal for a tax on financial transactions to raise hundreds of billions of pounds. The Prime Minister used a speech at a meeting of G20 finance ministers in St Andrews to call for the new tax to fund future bank bailouts – despite previous government opposition to such a move. However, within hours of his speech, both the US and Canada rejected the plan. Timothy Geithner, the US Treasury Secretary, said: "That’s not something that we’re prepared to support." Canada’s finance minister, Jim Flaherty, said: "It is not something we would be interested in in Canada."

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