'Tobin tax' would hit City of London with missile, says John Major

Sir John Major has warned that a Franco-German plan to introduce a financial transaction tax across Europe was akin to directing a "heat-seeking missile" at the City of London.

Hours after David Cameron failed to persuade Angela Merkel to drop the idea of such a "Tobin tax" in the EU, the former prime minister highlighted deep British unease over the issue by accusing Paris and Berlin of fanning the flames of Euroscepticism.    Read More