Britain mulling cut in top tax rate to boost growth

UK Chancellor George Osborne is putting the finishing touches to his budget today amid claims he is prepared to cut the 50p top rate of tax.

Downing Street insisted the claims that the levy on earners over £150,000 (€180,00) would be reduced to 40p were “speculation” but government sources have confirmed the Chancellor is set to introduce a “Downton Abbey” tax break for the television industry.