UK to resist transaction tax on EU members
The UK has said it will resist a financial transaction tax on EU members proposed by the European Commission.
The tax would raise about 57bn euros ($78bn; £50bn) a year and would come into effect at the start of 2014.
Commission president Jose Manuel Barroso said banks must "make a contribution" as Europe faced its "greatest challenge".
Gavin Hewitt reports.
28 Sep 2011
- From the section Business