February, 20, 2010

The Harper government is pushing back against Britain’s efforts to win support for a global levy on financial institutions, a political decision that drew applause from Canada’s banks, yet risks creating discord within the Group of 20.In a message aimed at British Prime Minister Gordon Brown and other European governments, Canadian officials speaking on the condition of anonymity told news organizations – starting with London-based reporters for The Wall Street Journal – that Canada would amplify its opposition to a bank levy in the days ahead.

The British leader, irritated Canadian officials by suggesting this week that there’s a consensus forming around a proposal that Prime Minister Stephen Harper and Finance Minister Jim Flaherty have stated they oppose.Mr. Brown repeated yesterday that he hoped the G20 would endorse his call for an international levy that would curb the excesses that led to the financial crisis.

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