Canada opposes G20 global bank tax effort: official

Fri Feb 19, 2010 1:02pm EST
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TORONTO (Reuters) - Canada will formally oppose international efforts by the world's major economies to impose a global bank tax at the upcoming G20 summit in June, a senior government official said on Friday.

The official, speaking on condition on anonymity, said Canada is not opposed to other countries imposing a levy on their banks. But Canada does not want to have to impose a levy on its domestic banks, which did not require bailouts during the financial crisis.

(Reporting by Louise Egan; writing by Jeffrey Hodgson; editing by Rob Wilson)