U.K. Shies Away From Transaction Tax

The U.K.’s newly formed coalition government appears to have ruled out plans to introduce a tax on financial transactions. The move, which will be cheered by the U.K. banking sector, will come as a blow to other E.U. countries, such as Germany, where politicians are making the case for transaction taxes to be implemented as a way of offsetting the cost of the E.U. bailout fund.