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French President Nicolas Sarkozy has announced plans to introduce a tax on financial transactions. The 0.1% levy will be introduced in August regardless of whether other European countries follow suit. The tax is part of a packagebarbour jackets of measures set out by the president to promote growth and create jobs. Mr Sarkozy faces a presidential election in April, but is currently trailing in the opinion polls behind his Socialist rival, Francois Hollande. In an interview with French television, Mr Sarkozy http://www.shopbarbourjackets.comsaid he hoped the tax would push other countries to take action. "What we want to do is create a shockwavebarbour quilted jacket and set an example that there is absolutely no reason why those who helped bring about the crisis shouldn't pay to restore the finances," he said. "We hope the tax will generate one billion euroswww.officialbarbourshop.com ($1.3bn, £0.8bn) of new income and and thus cut our budget deficit." Mr Sarkozy gave no further details on the tax, but a government source later told Reuters news agency it would target shares and not bonds. French and German proposals for an EU-widebarbour coats financial transaction tax were among the reasons the British Prime Minister David Cameron vetoed EU treaty changes at a summit in Brussels in December. Mr Cameron argued that such a tax would penalise thehttp://www.barbourjacketsshop.com City of London where 75% of European financial transactions take place.