Thinktank: UK must drop 50p tax rate to kick-start growth

The Centre for Policy Studies (CPS) said spiralling unemployment would continue unless George Osborne removed the top-rate 50p tax on high earners, and abolished stamp duty on share transactions. Only then would the UK return "to the top of the league table" for tax competitiveness, said the report, authored by the CPS's Ryan Bourne. "The best approach to boost growth is therefore to improve our competitiveness through lowering specific taxes and undertaking regulatory reform - unwinding the burdens of state regulation and reducing the cost of employment," he said. The report, enti...