Boris Johnson praises India tax regime as he urges cut in UK top rate

 

Mumbai

The Chancellor George Osborne should think about cutting the top rate of income tax, Boris Johnson said today as he praised India for having a more attractive regime for entrepreneurs.

The London Mayor said the Chancellor should "brood" on whether the top rate of tax - which currently stands at 45% - should be cut.

He said he met Mumbai-based businessmen this morning, who asked him whether London could be made more attractive to foreign investors through lower rates of tax and less regulation.

In reply, Mr Johnson said the tax regime "needed to be looked at".

Speaking at the Bombay Stock Exchange on the final day of his tour of India. Mr Johnson said: "You've got tax rates here of only 30% - a point George Osborne might like to brood on.

"It's 10% for freelance income, and of course you have a market of about 600 million people under 25."

In interviews with reporters afterwards, he added: "One businessman said to me this morning that he loved London, he loved the quality of life in London. There are so many attractions of living in London that you can't find anywhere else. That is a very high card.

"But another businessman asked about making London more attractive in terms of tax and regulation and certainly the tax regime. As I have said many times before, that needs to be looked at."

After an hour and a half of speeches at the stock exchange, Mr Johnson posed with the bull statue at its main entrance, gripping its horns as if he was a rodeo rider desperately clinging on.

He then headed to the Gateway of India, an 85ft (26m) basalt arch which stands in Mumbai's harbour, to pose for pictures with a British-made Brompton bike.

He tried somewhat unsuccessfully to pedal through the large crowds of tourists and hawkers in the midday heat as photographers tried to keep up.

After just missing a couple of street vendors, Mr Johnson rode into a cordoned-off section of promenade in front of the arch.

But a group of soldiers with large sticks said filming was banned in the area and ordered the cameramen to stop taking pictures immediately, bringing an abrupt end to the photocall.

This afternoon, Mr Johnson heads to a television studio for an interview with India's equivalent of David Letterman when he appears on Times Now with Arnab Goswami.

PA

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Guru Careers: Tax Manager / Accountant

£35 - £50k DOE: Guru Careers: A Tax Manager / Accountant (ACA / CA / CTA) is n...

Recruitment Genius: Telemarketing Operative

£6 - £15 per hour: Recruitment Genius: This is an opportunity to join a well e...

Recruitment Genius: Data Scientist

£20000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: Full Stack Software Developer - Javascript

£18000 - £27000 per annum: Recruitment Genius: This is an exciting opportunity...

Day In a Page

Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Bettany Hughes interview: The historian on how Socrates would have solved Greece's problems

Bettany Hughes interview

The historian on how Socrates would have solved Greece's problems
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Mildreds and Vanilla Black have given vegetarian food a makeover in new cookbooks

Vegetarian food gets a makeover

Long-time vegetarian Holly Williams tries to recreate some of the inventive recipes in Mildreds and Vanilla Black's new cookbooks
The haunting of Shirley Jackson: Was the gothic author's life really as bleak as her fiction?

The haunting of Shirley Jackson

Was the gothic author's life really as bleak as her fiction?
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Ashes 2015: Tourists are limp, leaderless and distinctly UnAustralian

Tourists are limp, leaderless and distinctly UnAustralian

A woefully out-of-form Michael Clarke embodies his team's fragile Ashes campaign, says Michael Calvin
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen