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Meeting ahead of the G8 and G20 summits in Toronto in June, heads of business chambers from G8 nations have urged their leaders to institute new polices to sustain recovery from the economic meltdown.

Before G8 and G20 summits in Toronto next month can discuss a proposed global bank tax, Canada, whose banks stood out during the economic meltdown, has mounted an international effort to scuttle the idea. To get the US, India, China and other economies on their side and scuttle the idea, three Canadian ministers have reached Washington, Mumbai and Shanghai.