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Abolish 50p tax rate, says Centre for Policy Studies

A new report has called for the abolition of the 50p tax rate and a cut in corporation tax to stimulate the UK economy.

The Centre for Policy Studies think tank is calling for employers' national insurance contributions to be reduced and tax-free personal allowances to be increased to £500.

It says the £14bn package could be funded by freezes in international aid and by cutting relief on pension contributions.

Radio 5 live Morning Reports spoke to Ryan Bourne from the CPS.

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Morning Reports broadcasts daily 05:00 to 05:30 on Radio 5 live.