UK 'losing £8bn' rejecting bank tax

Chancellor George Osborne is turning his back on £8 billion a year in Treasury revenue by not signing up to a new tax on banks, it has been claimed.

The attack on Britain for not taking part came as 11 Eurozone countries won formal approval at talks in Brussels to go ahead without the rest and levy the tax on financial transactions between banks to raise extra money to fund future bail-outs.
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