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IMF Chief tells Sky News: Transaction Tax unlikely to work
Issued: November 7, 2009
[07 November 2009 on Sky News]
In an interview with Sky’s Jeff Randall, Managing Director of the International Monetary Fund, Dominique Strauss-Kahn, has said that he doesn’t think a transaction tax such as the one proposed by Gordon Brown earlier today at the G20 summit in St Andrews is likely to work.
Speaking shortly after the US Treasury Secretary Timothy Geithner had exclusively told Jeff Randall that he could ‘not support’ the Prime Minster’s proposal, Strauss-Kahn said: “The head of state meeting in Pittsburgh in September asked the IMF to work on this question of a tax of the financial sector – could be a transaction tax or not. I don’t believe it will be a transaction tax because transactions are very difficult to measure and so it’s very easy to avoid a transaction tax.”
Jeff Randall: “Would we damage Wall Street and The City?”
DSK: ”We don’t want to damage anybody. We want to have a financial sector which will not put the global economy at risk as was the case in this financial crisis.”
- Ends -
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