TaxCorporate TaxMayor of London unlikely to axe 50p tax rate

Mayor of London unlikely to axe 50p tax rate

Boris Johnson claims it is unlikely the UK will drop the 50p tax rate in current climate

MAYOR OR LONDON Boris Johnson said he is “unlikely” to put an end to the 50p tax rate in the current climate but warned the City must be able to compete internationally.

Johnson recently said in an interview: “I don’t see any sign of it going soon,” The Telegraph reports.

Adding it was “probably unlikely” that the tax would not be cut in the current climate and that he didn’t “see any sign of it going soon”.

David Cameron said he still regarded the rate as a “temporary measure” but accepted it could not be scrapped until after the 2015 general election.

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