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Brexit Kicks EU Financial Transaction Tax Into the Long Grass

  • Schelling says 10 nations want to know likely Brexit outcome
  • Talks will continue on pension impact, implementation costs

The 10 European Union countries still plotting a tax on financial transactions tied the proposal’s fate to the outcome of the Brexit negotiations, pushing any decision on the six-year-old plan even farther into the indefinite future.

Austrian Finance Minister Hans Joerg Schelling, who’s leading the tax talks, said a group of national experts, in collaboration with the European Commission, would “try to project the possible Brexit scenarios” on to the plan and “think about the consequences.” The uncertain outcome of the Brexit talks will complicate this effort, he said.