Nicolas Sarkozy and Angela Merkel are edging towards a deal for an EU-wide financial transaction tax. [Express]
THE European Union plans to hammer Britain with a crippling new tax that will hit pensions, cost jobs and devastate business, it emerged yesterday.
The Franco-German plot will put Britain on course for another punishing clash with Brussels and leave David Cameron facing unrelenting demands for a referendum on our membership of the EU. French President Nicolas Sarkozy and German Chancellor Angela Merkel were yesterday edging towards a deal for a swingeing EU-wide financial transaction tax, despite fierce opposition from Britain. Sources in the French government said the two will discuss “rapid implementation” of the levy next Monday. Jean Leonetti, French minister for Europe, claimed it will be in force “by the end of the year”.The latest plotting triggered fury at Westminster amid fears the levy could penalise the City of London and lead to up to 500,000 job cuts in the UK.
