George Osborne is being urged by high-profile business experts to scrap the 50p tax rate. According to these experts, the top rate of tax is doing “lasting damage to the UK economy” and that scrapping the tax will help boost growth.
Osborne remains undeterred, however, making it recently that that the coalition had no intention of rethinking its tax and spending plans.
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http://www.guardian.co.uk/politics/2011/sep/07/george-osborne-urged-scrap-50p-tax
