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EU refuses to budge on transaction charge on share purchases

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EU refuses to budge on transaction charge on share purchases

Post  Panda on Wed 30 Apr - 9:56

http://www.bbc.co.uk/news/business-27218615

urope's top court has rejected the UK's challenge to the introduction of an EU financial transactions tax (FTT), which ministers have said will damage British firms.

The European Court of Justice (ECJ) said the UK could not block the levy on trades on the grounds that it would affect London's banks.

The FTT will be adopted by 11 EU states, but not by the UK.

UK ministers have also argued the cost of the tax will be passed to savers.

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