PM expects the battle to heat up at G20 summit
If European leaders end up with a bank tax, it will be over Canada ever more strenuous objections. Predicting a “lively debate” around the issue at the upcoming G20 summit in Toronto, Prime Minister Stephen Harper will be taking his campaign against the levy straight to European capitals over the next few days. So far, though, he’s had little luck converting his British counterpart, David Cameron. At a press conference on Thursday, Cameron said his government’s stance hasn’t changed a bit. “We are trying to deal here with a problem that relates, yes, to the fact that we had to bail out our banks in the UK but a deeper problem which is that effectively some of these large institutions have an implicit guarantee that they will always be saved,” he said. “And in return for that implicit guarantee it does seem to me that there is a logic in saying that there is a charge they should pay in respect to that.”