The British government has had its FTT challenge denied but has been told it can file again later
Europe’s top court has rejected the
UK’s challenge to a controversial financial
transaction tax but has left the door open for a future bid
against the levy, writes Jonathan Watkins.
widely expected by market participants, comes from the European
Court of Justice (ECJ), which ruled the challenge premature as
EU member states had not finalised the levy.
The UK is
strongly opposed to the introduction of a 0.01% financial
transaction tax on derivatives, which market experts have told
FOW could harm liquidity in the market.
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