G20: USA Rejects Brown’s Bank Tax Idea
US Treasury Secretary Timothy Geithner has said he “is not prepared to support” Gordon Brown’s call for a tax on bank transactions, one the major losers had this idea of yet more taxation come to fruition would have been pension funds. As if Brown has not already done enough damage to pension funds in Britain.
But Mr Geithner’s rejection of the proposal will deal a fatal blow to the Government’s ambitions.
In an exclusive interview, he told Jeff Randall Mr Brown’s plan is “not something that we’re prepared to support”.
He said: “I think we all share a basic interest in trying to make sure we build a system where taxpayers aren’t exposed in the future and where the financiers are bearing the consequences of their mistakes – that they are responsible for the risks they take.
Despite the constant Labour propaganda about Brown saving the world and more recently the USA, Brown is increasingly out of step who those “he saved” because Brown’s answer to everything is Tax, Tax and more Tax, yet in both the USA and Germany who have come out of recession their government packages for growth are built on tax cuts not increasing taxation