'Non, nein, no!' Boris reacts to new EU financial transaction tax

The Mayor said the move would cause "serious damage" to London's economy and said: "Non, nein, no! I will not allow jobs, growth and the livelihoods of Londoners to be jeopardised by an unholy alliance of European states who view financial services as an easy target".

Last week the finance ministers of France, Germany, Austria, Belgium, Finland, Greece, Spain, Portugal and Italy petitioned for the fast-track introduction of a "Robin Hood tax".

David Cameron has branded as "madness" the moves to introduce the tax in Europe but not in America and other financial centres.

France's finance minister today reiterated his country's determination to press ahead with the tax with or without the support of other nations.

François Baroin said he wanted the tax to put pressure on the European Commission to accelerate the launch of the Europe-wide levy.

Mr Johnson said the tax would badly damage the City and described the moves as "ill thought out".

He also launched a thinly veiled attack on his Labour mayoral rival Ken Livingstone, who supports the tax and has said that Mr Johnson "spends more time defending the interests of the wealthiest bankers than fighting for ordinary Londoners".

Mr Johnson said that Mr Livingstone's "ideology" would drive away jobs from London.

He told the Standard: "I will not let ideology lead me to taking decisions that jeopardise jobs and growth in London in these difficult times.
What is being proposed is a tax that almost uniquely hits employment and wealth creation in this city, being put forward by countries that would not suffer the consequences in order to prop up a currency we are not part of."

He added: "Do they not understand that our crucial wealth providers will be on the first flight out to the US and Far East if their ill thought out plans succeed?"

Mr Livingstone hit back today and said: "Under Boris Johnson unemployment in the capital is rocketing and the Mayor has failed to show leadership when it comes to economic growth and prosperity.

"If elected I would work tirelessly to make London the leading financial centre in the world and do everything within my power to ensure the banks make a fair contribution to the rest of society."

It comes as François Hollande, the Socialist candidate in the French presidential election yesterday held out an olive branch to Britain, saying it should feel "part of Europe".

Mr Hollande will visit London on 29 February to speak to the Labour leader, Ed Miliband, and possibly the Prime Minister.

But he warned David Cameron that any attempt to create a "sanctuary" from regulation for the City of London was "not acceptable".