The Globe and Mail reports in its Tuesday edition that Canada's banking lobby group is calling out Ottawa for targeting financial institutions and ignoring warnings that the government's taxes aimed at extracting billions of dollars from banks and insurers will dampen lending and further stunt slowing profit growth. The Globe's Stefanie Marotta writes that talks with the government have led nowhere, according to the Canadian Bankers Association. Over the past two years, Ottawa has imposed three new taxes specifically on banks and insurers to help drum up funds to support government initiatives and help pay down climbing debt. Each change was unveiled without prior consultation, blindsiding the companies that typically have an opportunity to provide input on economic policy. TMX Group, the Canadian Chamber of Commerce and the Business Council of Canada have joined the CBA in denouncing some of the tax proposals in recent federal budgets. Ottawa also introduced a new 2-per-cent tax on share buybacks, saying it would encourage companies to reinvest profits in workers. The TMX Group says it will further boosts costs for its more than 3,000 publicly traded companies and will their ability to return money to shareholders.