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The tax is expected to generate only "modest" revenue (Photo: Ken Teegardin)

Ministers edge closer to agreeing transactions tax

Eleven EU finance ministers edged closer to agreeing a tax on financial transactions at a meeting on Friday (7 November).

At a press conference following the monthly meeting of EU finance ministers on Friday (7 November), Italian minister Pietro Carlo Padoan, whose country holds the EU's six month rotating presidency, told reporters that there had been "good progress in both the criteria and the identification of items that would be subject to the tax".

Padoan commented that minis...

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