TO prevent traders from playing one jurisdiction against the
other to avoid Financial Transaction Tax (FTT), the UK has favoured the idea of
introducing the same at Lond and Wall Street.
As
per media reports, the British Chancellor George Osborne has said that a
financial transaction tax needs careful design, and must be set at a modest rate
without creating negative economic consequences and must minimise international
tax arbitrage.
If Britain and
America can move forward together so that Wall Street and London traders are
simultaneously brought into a financial transaction tax regime, real progress
could be achieved in safeguarding vital services and economic growth.
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