British chancellor George Osborne has attacked EU plans to create a financial transactions tax (FTT), describing it as "poorly designed, badly timed and unlawfully extraterritorial."
He said it would "hinder EU growth by disrupting the diverse markets used by corporates to raise financing for long-term investment … [and] undermine the single market by splitting tax treatment of derivatives into two regimes."
He predicted it would also cause "conflict" within the G20, a forum of le...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.