Cut National Insurance and 50p Tax Says Boris Johnson

Renewed calls today to reduce taxation in order to boost the economy, this time coming from London Mayor Boris Johnson. Official figures are showing a minute growth of 0.2 percent between April and June this year, much below the expectations of many ministers. The same ministers are now putting pressure on Chancellor George Osbourne to try and jump-start the move into recognisable growth. Mr Johnson feels a cut in National Insurance will bolster consumer confidence, with the added removal of the 50 percent tax rate plowing more investment into London. Popular opinion at the moment is that the Chancellor will be scrapping the 50 pence tax band in the next budget - with implementation not until 2013, the following year.