Prime minister leads charge on taxation havens

Date: 19th February 2009

Prime Minister Gordon Brown has called on other major economic powers to shut down taxation havens.

Speaking at Downing Street yesterday (February 18th), Mr Brown expressed his desire to close off tax loopholes which are said to cost the world's economy billions of pounds each year.

At his conference, the prime minister outlined that London's G20 meeting would see the government focus on banking regulation reform and economic stimulus as it looked to dampen the effects of recession.

He commented: "We want the whole world to take action.

"This will mean action against regulatory and taxation havens in parts of the world which have escaped the regulatory attention they need."

Mr Brown also called on the world's economic powerhouses to give up protectionist fiscal policies and help boost the International Monetary Fund's resources.

Earlier this month, Chancellor Alistair Darling revealed that his budget statement would be pushed back to April 22nd to accommodate the G20 summit.