Keeping our capital working for the UK

Print this page

Cameron right not to rule out 40% top rate

Following David Cameron’s refusal to rule out cutting the top rate of income tax to 40% at PMQs, Baroness Jo Valentine, chief executive of business group London First said:

“Research from the Institute for Fiscal Studies suggested that a top rate of around 40% would generate the most tax revenue.

“Restoring the top rate of tax to 2009 levels would send a strong signal that Britain is open for business and continue our growth out of recession.  

“Ed Balls’ announcement that Labour would raise the rate of tax back to 50% sends the wrong kind of message and will be welcomed by our global competitors.

Read more about our work on a competitive tax regime

London First Tweets