Financial Transaction Tax and Economic and Monetary Union

Part of Common Agricultural Policy – in the House of Commons at 2:44 pm on 18th June 2013.

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Photo of Greg Clark Greg Clark The Financial Secretary to the Treasury 2:44 pm, 18th June 2013

I am intrigued by what the hon. Gentleman has just said. He cites the House of Commons Library, which has said that the tax could raise £10 billion, and says that that would be useful. Is he arguing that such a financial transaction tax would be in addition to stamp duty? Is he proposing such a tax?