UK won't support EU financial-transaction tax, Osborne says:

UK Chancellor George Osborne said a proposed tax on financial transactions in Europe would hinder London's position as a global financial centre. "I am against an EU tax," he said. "There would be no point introducing a financial-transaction tax that led, the next day, to our foreign exchange markets moving to New York or Singapore or anywhere else." The opposition pits the UK against France and Germany.

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