Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

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Peers reject "flawed" EU transaction tax

LONDON (Reuters) - Britain must veto European Union plans to tax financial transactions as they are flawed and would likely prompt banks to relocate, a House of Lords' report said on Friday.
A report from Corporate Europe Observatory (CEO) released on Thursday said the financial industry had been successful in mounting a "full scale scaremongering lobby" against the tax.
"With the proposals now to be decided by the EU Council, which requires unanimity on taxation issues, Europe's financial transaction tax looks destined for the dustbin," said CEO, which tracks EU-focused lobbying.
Published by: 
The Guardian

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Two separate developments on European regulatory issues – regulatory cooperation under TTIP and the "Better Regulation Agenda" – are set to introduce a new style of rulemaking in the EU, one that would introduce severe obstacles to anything that would against the interests of multinational corporations in the EU and the US. 

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