EU likely to tax financial transactions once UK leaves, says ex-insider

As a consequence of Brexit, the EU will most likely introduce a financial transaction tax as voting power shifts in the EU Parliament, predicts Schroders' economist Azad Zangana. As a former negotiator in the EU Parliament, he speaks from experience.

"I got to witness firsthand how UK persistently impedes increases in taxes and regulation that are designed to either reduce competition or protect certain underperforming elements," says Azad Zangana | Photo: PR: Schroders

Many investors underestimate the impact Brexit will have on future legislation in Europe, according to Azad Zangana. He is senior European economist and strategist at Schroders -- a global asset manager with roots in the UK.

As a result of Brexit, Zangana predicts that the EU will introduce a financial transaction tax in a few years' time, he tells AMWatch in an interview in Copenhagen.

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