They're spreading out and spreading the word. Today, several cabinet ministers from the Harper Government are on the road, taking their message to the international community: that Canada does not support the growing push for a global bank tax.
They're in the minority: the proposed tax is backed by the U.S., the European Union and the International Monetary Fund. As proposed, it would be applied to global financial institutions, to counteract economic volatility, and create a global fund to deal with future economic crises. But the Harper Government argues that the tax would unfairly punish Canadian banks, which weathered this past financial storm admirably. So they're proposing a different measure -- one that would hold bank shareholders responsible for financial bail-outs, rather than taxpayers.
It's a good idea, according to Paul Martin, Canada's former Prime Minister and Finance Minister. But he argues that it's still not the right solution. We reached Paul Martin in Montreal.
http://www.cbc.ca/asithappens/latestshow.htmlhttp://www.cbc.ca/mrl3/8752/asithappens/aihstreaming_20100518_01.wma
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