Lord Pearson of Rannoch
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EU: Eurozone Financial Transaction Tax
Lord Pearson of Rannoch Excerpts
Tuesday 5th March 2013
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(11 years, 4 months ago)
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Lord Newby
My Lords, we are engaged in discussions on this tax as it could have significant impacts not just on the City but across the EU. While the Government are not opposed in principle to a global FTT, with the lack of consensus on such a thing and faced with a proposal which we think could be damaging not just to the UK but to Europe as a whole, we are rather sceptical about it.
Lord Pearson of Rannoch
How do New York and other financial centres react to the international reach of this particular piece of EU lunacy?