The Finnish presidency has cancelled a high-level meeting of EU treasury officials

Date: 22/07/1999

which was planned for tomorrow (23 July) after the British government again failed to produce a compromise proposal on savings taxation. UK Finance Minister Gordon Brown had twice promised a paper outlining how institutional holdings of foreign-currency eurobonds could be exempted from the planned EU-wide 20&percent; tax - firstly by the end of June, and then in time for tomorrow's meeting.