US rejects global tax idea
Updated on 07 November 2009
The Prime Minister's surprise idea for the G20 , a global tax on bank transactions to fund future bail-outs, has been flatly rejected by America. Faisal Islam reports.
Gordon Brown urged the G20 finance ministers meeting in Scotland to consider the idea - which Britain has in the past been quite cool on.
But within hours the US Treasury Secretary Tim Geithner had said he was "not prepared" to support the idea and tonight it looks dead in the water.
