SHANGHAI, May 18 (Reuters) - Canada opposes a global bank tax and hopes that will be the prevailing view at a G20 summit the country will host next month in Toronto, Stockwell Day, Canada's President of the Treasury Board, said on Tuesday.
The meeting of leaders of the G20, a grouping that gathers major developed and emerging economies representing about 80 percent of global gross domestic product, will discuss key global economic issues including stronger banking regulation.
The Conservative government in Ottawa has long argued that due to stricter rules, Canadian banks did not exploit some of the lucrative dealings that eventually got their U.S. and European counterparts into so much trouble. They, therefore, did not need bailouts and it would be unfair to tax them now, Canada says.
