CBI comments on EU legal challenge to FTT

11 Sep 2013 11:30 AM

The CBI commented on the EU Legal Services challenge of the legality of the proposed Financial Transaction Tax (FTT).

Leo Ringer, CBI Head of Financial Services & Corporate, said:

“This opinion recognises that the FTT would have damaging implications for growth, jobs and investment beyond the member states involved, so now is the time to draw a line under this flawed proposal.

“It also makes clear that moves towards further integration between a number of EU countries can’t be taken forward if they impact on the rights of all member states, unless all states affected have signed up.”