EU financial-transaction tax plan in doldrums as Belgium heads towards exit

Brussels

BELGIUM'S finance minister signalled his country may pull out of plans by a group of European Union (EU) nations to impose a financial-transaction tax, a step that would leave the initiative hanging by a thread.

Johan Van Overtveldt said he is opposed to the levy and is winning the argument within the four-party coalition government to withdraw from negotiations over fears that the tax would drive business away.