EUROCRATS have moved a step closer to imposing a devastating tax on the City, sparking condemnation from industry groups. In a bid to boost Brussels’ budget by five per cent, the EU Parliament has voted to slap a Tobin, or so-called “Robin Hood” tax, on all financial transactions that pass through the City. The Association for Financial Markets in Europe (AFME), a regional industry body, yesterday condemned the move, which would add to a mounting burden of regulation that is due to swamp the financial sector over the coming months. AFME chief executive Simon Lewis said: “Calls for a financial transaction tax are ... (full story)