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Plans for a financial transactions tax may be delayed and be scaled back following a lack of agreement among 11 member states that had pledged to introduce the levy, writes the Wall Street Journal.
Following the breakdown of talks in October over the introduction of a financial transaction tax throughout the EU, 11 countries decided to push ahead with the European Commission proposal.
However, concerns that the tax could damage stock prices and increase the costs of raising capital seem to have triggered change of heart.
According to unnamed sources close to negotiations, revised plans suggest the tax may initially just affect just share trades, rather than bonds and derivatives as was originally planned.
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