Finance Magnates – EU Financial Transaction Tax Shaken as Race for London Jobs Intensifies

Victor Golovtchenko reports London’s bankers have been outspoken about their plans to leave London in light of the Brexit process that is being prepared by the UK government. As they contemplate the move, the European Union is considering a financial transaction tax. Some of the main contenders for a new European financial hub are immune from the risks of a financial transaction tax – Dublin, Copenhagen and Amsterdam. The position of Paris and Frankfurt could be well jeopardized by their support for the tax proposal.