Our country is being shortsighted here, backing banks and preventing the EU from offering a lead to the world: 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".
The UK said it had no objection to a financial tax in principle, but it would have to be introduced globally.
A transaction tax would need the approval of the UK in order to be implemented across the EU...
BBC News - European Commission financial tax opposed by UK
Wednesday, 28 September 2011
Open University Tutor, Environmental Science and Management; Former Secondary School Science Teacher; Former Research & Development Technologist/Chemist (Polymer Industry); Campaigner for a sustainable society for several decades; Parliamentary candidate in 1987, 2001, 2010