Page last updated at 12:31 GMT, Wednesday, 21 April 2010 13:31 UK

Will a global proposal on banking reform work?

Banks and other financial institutions face paying two new taxes to fund future bail-outs. Under the global proposals by the International Monetary Fund (IMF), all institutions would pay a bank levy - initially at a flat-rate - and also face a further tax on profits and pay.

The measures are designed to make banks pay for the costs of future financial and economic rescue packages.

Newsnight Economics editor Paul Mason reports.

Broadcast on Tuesday 20 April 2010.

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