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Basel chief says banking tax is "premature"

by David Jetuah

More from this author

04 May 2010

The head of the Basel Committee's banking regulatory panel has warned it is too early to hit banks with a global tax.

Nout Wellink said proposals to introduce a global banking tax were " premature."

"I doubt whether this is a good idea. It is born out of frustration. There are strong political motives behind it," Wellink told the FT.

Further reading:

Insurers object to IMF's global tax plan

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