Financial Times FT.com

France proposes bank levy

By Scheherazade Daneshkhu in Paris

Published: October 19 2009 20:36 | Last updated: October 19 2009 22:37

France will propose this week new fees for its banking industry to pay for increased supervision.

Christine Lagarde, finance minister, on Monday ruled out a 10 per cent tax on banking profits, a proposal due to be debated on Tuesday after its recent approval by the finance committee of the lower house of parliament.

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