Johnson: Abolishing 50p tax rate would help growth

Monday, 1 August 2011 12:00 AM

Boris Johnson, mayor of London, calls for an end to the 50p tax rate and a fresh look at national insurance as a way of stimulating growth:

"Certainly you should look at national insurance, you should look at ways of stimulating consumption, confidence in the market, and certainly I think the 50p tax rate as a signal that London is open for business, that London is a great international competitive capital.

"There are loads of projects around that can generate jobs for a long time to come, keep this economy moving, keep people in jobs, build skills, make London more attractive for years to come."

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