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MEPs divided over financial transaction tax proposal

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Opening a debate on the EC’s proposed financial transaction tax, Taxation Commissioner Algirdas Semeta told members of the European Parliament’s Economic and Monetary Affairs Committee yesterday that ‘company flight would not be the "major pattern" because tax regimes alone do not determine location’.

The debate saw ‘wide divisions, notably between British Conservatives and some Liberals on one side and Greens and Socialists on the other’, according to a press release issued by the European Parliament.

Watch the debate