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Brussels seeks financial tax in new EU budget

Future EU spending is set to increase, focusing marginally less on agriculture and more on research, education and transport, according to European Commission proposals for the next seven-year budgetary period (2014-2020).

The draft budget also includes controversial proposals for EU 'own resources', including a tax on financial transactions and an EU-wide value-added tax (VAT).

Presenting the document in Brussels late on Wednesday evening after an all-day negotiation with colle...

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