Icap's Spencer: 'not a prayer' of UK agreeing to FTT

Proposed EU trading tax would be vetoed by UK, says Icap's Spencer - if not, the broker will move its London HQ to New York


There is "not a prayer in Hades" of the UK agreeing to the proposed European Union (EU) financial transaction tax (FTT), according to Icap group chief executive Michael Spencer, who says he has been assured by senior members of the UK government that any proposal would be vetoed out of hand.

"I have had it first-hand from very senior members of our administration who I know personally and have had good relations with for a long time, that it will be vetoed without any doubt and without any

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