City of London study says EU transaction tax costly for UK

A planned EU tax on transactions would raise the cost of issuing UK debt by nearly four billion pounds if it were in force this year even though Britain will not impose the levy, a study said on Wednesday.

Eleven euro zone countries intend to introduce the tax on stock, bond and derivatives transactions next January to help to make banks pay for aid they received in the financial crisis.

via Business feed http://www.scmp.com/business/banking-finance/article/1206069/city-london-study-says-eu-transaction-tax-costly-uk