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Not so far-fetched
Posted: 11 February 2010

Global support for a tax on banks is growing, says Gordon Brown
Prime minister predicts financial deal by G20 in June

Quite how a global tax would work is unclear, but Brown said he thought the International Monetary Fund would propose a method that would be "somewhat different" from the tax on wholesale funding proposed by Barack Obama.

The US president disagreed with Brown earlier in the year after he proposed that the state should take a cut of bank transactions – a Tobin tax – but the IMF is thought to be considering alternatives, such as a tax on bank profits, turnover or remuneration.

VAT replaces income tax as financial crisis looms
Dateline: 20 Oct 2015
After a surprisingly rapid debate at the recent G22 Summit in Shanghai, member states unanimously supported a proposal to eliminate all personal income tax from 2018. A higher consumption tax, or VAT, will replace income tax. Ever since the Credit Crunch of 2008, governments have struggled to fund ballooning stimulus packages. Initially, income and special punitive taxes were raised in ...
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