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Schaueble - transactions tax can be implemented 'step-by-step' from 2016 (Photo: consilium.europa.eu)

Ministers near deal on 'step-by-step' transactions tax

Ministers anxious to bring in a tax on financial transactions are hoping to secure a political deal introducing a levy in 2016, in talks planned on Tuesday (6 May).

A document outlining plans for the tax's gradual introduction in 2016 is expected to be presented to the rest of the EU's 28 finance ministers later today, Reuters reports.

“We know that we can only proceed step by step,” German Finance Minister Wolfgang Schaeuble said in Brussels on Monday. “The possibilities, the sit...

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