The London Metal Exchange is one of the markets that could be affected Times photographer Richard PohleThe European Commission has started an investigation into whether Britain has broken single market rules by failing to pay enough tax on commodities trading. As the UK negotiates its departure from the European Union, officials in Brussels notified ministers yesterday of “infraction proceedings”. They are investigating Britain’s tax policy regarding the trading of commodities such as gold, copper and oil. London is an important global hub for commodity trading, which involves goods such as gold and oil. The London Metal Exchange and Intercontinental Exchange, both based in the city, are two of the biggest commodity exchanges in Europe.

Source: The Times March 09, 2018 09:00 UTC