U.K. officials remain opposed to EU tax on financial transactions

10/27/2011 | Bloomberg · Financial Times (tiered subscription model)

U.K. Chancellor George Osborne told lawmakers in Parliament that Britain will oppose any tax on financial transactions that is not implemented globally. "The eurozone is determined to pursue a financial-transaction tax," Osborne said. "Britain will not accept a financial-transaction tax at an EU-27 level while other places in the world don't have one." Meanwhile, London Mayor Boris Johnson urged the EU to drop the idea, which he said would drove business from London and result in job losses.

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