Bank tax must be international, says UK
(BBC): Banks will leave the UK and relocate overseas if there is not international co-operation on any tougher financial regulation, the chancellor has said. Alistair Darling told the Commons Treasury Committee he did not want to take the risk of acting unilaterally. The Conservatives have said they would create a new tax on banks even if other countries decided not to do so. Darling also said Labour’s planned rise in National Insurance next year would have an "impact" on jobs. The chancellor spoke as revised figures showed the UK economy grew more strongly than was previously thought – by 0.4% – in the last three months of 2009.
Category: Business
