23 Jan 2012

Romney to release tax returns

9:41 am on 23 January 2012

US Republican presidential candidate Mitt Romney says he will this week release his tax returns for the last two years.

He admits the anger over his returns hurt him in South Carolina, where he badly lost a primary poll to former House speaker Newt Gingrich.

Mr Gingrich won 40% of the vote in the primary election there on Saturday, while Mr Romney was second with 28%.

Mr Gingrich and other candidates attacked Mr Romney in debates last week, asking why the former private equity executive would not issue his returns.

Mr Romney also paved the way for the disclosure by saying he paid a tax rate of around 15%, below many American wage earners.

The next contest is the Florida primary on 31 January.