The International Monetary Fund is exploring the use of tax as a tool to reduce excessive risk-taking. 'We have been asked by the G-20 to look into financial sector taxes,' IMF managing director, Dominique Strauss-Kahn told UK businesses at the annual conference of the Confederation of British Industry. 'Can the tax system help reduce excessive risk-taking in the financial sector? Can it be used to further the legitimate goals of fairness and equity in this area? There are a number of ways to think about this, and we will look at it from various angles and consider all proposals,' Strauss-Kahn said. He added that in addition to international moves to improve regulation, there should be 'better application' of the rules. 'That means beefing up supervision and supervisory capacity. The new regulatory system must do a better job of avoiding capture and complacency . We also need to address risk management in the financial sector, and break the link between risky behaviour and compensation,' he said. Later Financial Services Authority chairman, Lord Adair Turner - who first raised the idea of Tobin tax in the UK followed by criticism from the banking sector - welcomed the IMF's moves. Said Turner: 'I welcome the fact that the IMF is going to look at a range of issues, one of which is Tobin tax ... I think the chances of this happening are relatively small, but I welcome the fact that it is one of the issues being debated and considered, along with issues such as "too big to fail" we ought to invstigate these.' The IMF will issue a report on its findings in April 2010.