As Angela Merkel sets out Germany’s priorities for its presidency of the Council of the European Union, Victoria Hewson said a proposed financial transactions tax would be “seriously counterproductive” to economic recovery.

Quoted in City A.M., Victoria, Head of Regulatory Affairs at the Institute of Economic Affairs, said while the tax had been on the EU’s agenda for a while  the UK had always strongly resisted and such a move could encourage business to relocate from inside the EU, hampering coronavirus recovery efforts.

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