IMF Urges World Nation To Slap Banks With Two New Unprecedented Taxes

An interesting story to watch is the extent to which the IMF really establishes itself as a major regulator of financial activities.

It’s certainly trying.

The organisation has sent a report to G20 nations urging them to slap two new taxes on their banks, according to The Telegraph.

They would be a balance sheet tax and a taxes on bonuses.

It’s not clear whether the balance sheet tax would be graduated in some way, so as to discourage the existence of megabanks.

Either way, as leaders the world over debate financial reform, here is a new major body pushing for there to be a big tax component, and unlike most tax hikes, neither of these would be particularly unpopular.

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