City of London expresses concern about Europe's FTT

The City of London has released a report showing that a financial-transaction tax proposed in the EU would hurt the economy. "The financial-transactions tax is an ill-conceived idea that risks significantly damaging economic prospects across Europe," said Mark Boleat, the City's policy chairman. "Not only would it adversely affect the cost of sovereign debt, but it would also make it more difficult for businesses across the continent to access funding."

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