✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Top UK economic officials to hold G20 follow-up meeting

Published 04/04/2009, 05:23 PM
Updated 04/04/2009, 05:24 PM

LONDON, April 4 (Reuters) - British Prime Minister Gordon Brown, Bank of England Governor Mervyn King and other top economic officials will hold a follow-up meeting on Monday after last week's G20 financial summit, a British official said on Saturday.

Finance minister Alistair Darling, Financial Services Authority Chairman Adair Turner and Trade and Investment Minister Mervyn Davies will also take part in the meeting in London, the official, who asked not to be identified, said.

The gathering brings together Britain's top economic officials and financial market regulators.

The meeting will discuss "how we drive forward the G20 agenda" both internationally and in respect of British policy on financial services and tax havens, the official said.

Britain will call on a number of British territories that have not yet implemented pledges to sign agreements to exchange tax information with other countries to do so as soon as possible, he said.

At Thursday's G20 summit of leading industrial and developing economies in London, world leaders clinched a $1.1 trillion deal to combat the worst economic crisis since the Great Depression and said financial rules would be tightened.

The summit promised a crackdown on jurisdictions that failed to cooperate in cross-border tax evasion cases.

Pushed by France and Germany, the G20 agreed that countries should sign up to global rules on sharing tax information or risk being placed on a blacklist.

The Paris-based Organisation for Economic Cooperation and Development (OECD) published a "grey list" of countries on Thursday that have not yet implemented their commitments to sign agreements with other countries to exchange tax information.

A number of British territories figure on the "grey list", including Bermuda, the Cayman Islands, Gibraltar and Turks and Caicos Islands. (Reporting by Adrian Croft; Editing by Alison Williams)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.