Bank shares have fallen in London after the United Kingdom said it would resist a financial transaction tax on European Union members proposed by the European Commission. The tax would raise about 57 billion euros a year and would come into effect at the start of 2014. At close, Royal Bank of Scotland was behind by 3.64%, Lloyds Banking Group by 2.4%, and Barclays by 1.22%. London would be hardest hit by the tax as the majority of banking transactions in Europe come through the city.