Keep 50p-in-� rich tax, says London Assembly

The London Assembly has come out today in favour of keeping the 50p-in-the-� tax rate for those earning more than �150,000 a year.

It voted to call on the Chancellor to retain the ‘rich tax’ rate—which goes against Boris Johnson’s call to abolish it.

“The Mayor has adopted an extremist position,” Green member Darren Johnson told the Assembly.

“Even George Osborne says he cannot think of abolishing the 50p tax rate while asking public sector workers to accept a pay freeze.

“We should have a Mayor committed to reducing the growing gap between rich and poor, rather than proposing measures that exacerbate it.”

His resolution declares it fair to expect the rich to contribute more to the national finances.

The City is still hiring and there has been no haemorrhaging of jobs, the assembly heard. Those earning �150,000—many living in London—are among the nation’s richest one per cent.