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date: 28 September 2011
embargo: For immediate release
Welcoming the announcement by European Commission President Barroso today (Wednesday) of a draft directive for a Financial Transactions Tax (FTT), TUC General Secretary Brendan Barber said:
'This is a major step forward and I urge the British government to support it. An FTT would provide much needed revenue for tackling climate change, global poverty and cutting public sector deficits.
'It would also help rebalance the economy, address the under-taxing of the financial sector, and reward long-term investment.'
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