Scottish Labour leader looks to tax bank bonuses

Scottish Labour leader Jim Murphy has challenged London mayor Boris Johnson as he pledged to use a one-time tax on bank bonuses to end long-term youth unemployment in Scotland.

Speaking in the City of London, the UK capital’s financial district, Murphy said £1bn (€1.35bn) from Labour’s proposed levy would be used to help unemployed 18-19-year-olds in Scotland to create businesses or buy tools and provide a guarantee of work for those at risk of long-term unemployment.

The Scottish Labour leader came under fire in January from Johnson, a Conservative, and Labour mayoral candidate Diane Abbott, when he said a “mansion tax,” predominantly paid by houseowners in London’s wealthiest areas and in south-east England, would be used to fund 1,000 more nurses in Scotland.