By Daniel Hunter
The Mayor of London Boris Johnson has hit out at the nine EU states who have called on the Danish Presidency to speed up the introduction of a damaging Financial Transaction Tax.
The Mayor believes the tax would cause serious damage not only to London and the UK but to the future prosperity of the whole EU economy.
The nine member states, which include France and Germany, have sent a joint letter to the Danish Presidency requesting rapid progress with the project.
Apart from the huge damage the tax would cause to growth and jobs in London, Europe's most successful financial services centre, the rest of Europe would suffer as growth is hampered. Jobs would be lost not just in its finance sector and the related sectors that support it but in the entire Union and its businesses whilst other global financial centres, free of such a restrictive tax thrive.
The Mayor believes that the Commission should focus not just on helping to reform the financial services sector, but also on how to support and promote it, given that it will be play a key role in facilitating a broader economic recovery and future growth.
"Non, nein, no! I will not allow jobs, growth and the livelihoods of Londoners to be jeopardised by an unholy alliance of European states who view financial services as an easy target, despite the fact that it is crucial to the economic recovery of all its members," the Mayor of London, Boris Johnson said.
"Do they not understand that our crucial wealth providers will be on the first flight out to join our competitors in the US and Far East if their ill thought out plans succeed? That would be a catastrophe for the Union and its citizens who are already reeling from the fallout from the failing Euro project."
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