France is free to go it alone with a financial transactions tax but Britain will block a European-wide tax, Prime Minister David Cameron said on Sunday.
If the French themselves want to go ahead with a transactions tax in their own country, then they should be free to do so, Cameron said in an interview with the BBC.
The idea of a new European tax when you're not going to have that tax put in place in other places, I don't think is sensible and so I will block it.
Unless the rest of the world all agreed at the same time that we are all going to have some sort of tax then we are not going to go ahead with it.
French President Nicolas Sarkozy vowed on Friday to push ahead with a new tax on financial transactions, also known as a Tobin tax, even without France's EU partners, in the face of stiff British resistance.
(Reporting by Adrian Croft; Editing by Avril Ormsby)