The London Assembly today expressed its support for keeping the 50p tax rate for those earning more than £150 000 a year. In its motion, the Assembly said it regrets the Mayor of London's call for its abolition.
Assembly Members said they believe it is fair to expect the very richest to contribute more to the national finances, especially at this time of public cutbacks.
People with an income of £150 000 - many of whom live in the capital - are in the richest one per cent of households in the country.
The Assembly called for its Chair to write to the Chancellor of the Exchequer to inform him of its support for retaining the tax rate.
Green Assembly Member, Darren Johnson, who proposed the motion, said:
"The Mayor of London has adopted an extremist position. Even the Chancellor George Osborne says he cannot think of abolishing the 50p tax rate while at the same time 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."
The full text of the motion reads as follows:
"This Assembly supports retention of the 50p tax rate for those earning over £150 000, and regrets the Mayor's call for its abolition. It notes that a family with two children and a household income of £150 000 would be in the richest 1% of households in the country, and believes it is fair to expect the very richest households, many of whom live and work in London, to contribute more to the national finances, particularly at this time.
"The Assembly therefore requests that the Chair writes to the Chancellor of the Exchequer expressing this Assembly's support for keeping the 50p tax rate."
Notes
The motion was agreed by 13 votes in favour.