The full impact of the tax on financial transactions imposed by the European Union can be revealed today as two major studies uncover the costs to economic growth and business expansion. In a presentation prepared for investors and likely to be released this week, the inter-dealer broker ICAP said that the Financial Transaction Tax (FTT) would "damage mainstream economies" and that companies would find it more expensive to secure finance. In a separate report, Barclays said the "politically-motivated" FTT could cut EU GDP by as much as 0.3pc, at a time when many eurozone countries are in recession. It said ... (full story)