Canada’s PM dispatches his ministers around the world to discourage international bank tax

Canada to voice international bank tax opposition

TORONTO — Canada’s prime minister has dispatched his top ministers around the world to wage a campaign against a proposed international bank tax that he says would unfairly penalize Canadian banks.

Prime Minister Stephen Harper noted Monday that Canada has not experienced the failure of any major financial institution and says it would be unfair to punish them for the misdeeds of others. Harper spoke at a G-8 and G-20 youth forum in Parliament ahead of the G-8 and G-20 summit in Canada next month.

Five cabinet ministers will deliver speeches in Washington, Shanghai, Mumbai, and Ottawa on Tuesday to express Canada’s opposition to a bank tax

The tax is being pushed by European countries and has the backing of the U.S.