David Cameron has vowed to veto a European-wide financial transaction tax unless it is imposed globally.
Speaking to the BBC yesterday, Cameron said the proposed Tobin tax would damage the City's interests, and should either be imposed worldwide or not at all. "The idea of a new European tax, when you are not going to have that tax put in place in other places, I don't think is sensible and so I will block it," Cameron told the BBC. "Unless the rest of the world all agreed at the same time that we are all going to have some sort of tax then we are not going to go ahead with it." EU-wide tax measures need approval from all 27 member states. However, on Friday French President Nicola...
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