UK struggles to duck Tobin tax

A FINANCIAL TRANSACTIONS tax could hit the City of London despite the UK planning to opt out of a Europe-wide plan being mooted in Brussels.

The European Commission is poised to propose a sweeping new regime that would apply to major financial instruments including derivates, bonds, shares and some currency transactions, the Financial Times reports.

Even if the UK opts out it could still be hit by the tax, which would affect traders based in other EU countries.

More to follow.

Related reading

Life Belt with Computer Folders