Gordon Brown is latest convert to CTT at G20
09 November 2009
The recent G20 meeting of Finance Ministers in Scotland generated little excitement except for the UK Prime Minister's support for the idea of a Currency Transaction Tax.
While press reports suggest that there was no international support for this idea, in fact he is only the latest European convert to this idea which has been promoted by leaders from France, Belgium, Austria and Germany. While CTT is not incorporated in EU law or policy as yet there is a strong move in this direction, with some variations, for example, Chancellor Angela Merkel has put forward a broader Financial Transaction Tax proposal as a way of making financial institutions contribute to resolving the mess they created.