fifty pence coin
Media playback is unsupported on your device
Video

Some businesses are keen to get the 50p tax rate scrapped

A letter signed by more than 500 bosses of small businesses is calling for the Chancellor to scrap the 50% top rate of tax.

The letter, published in Thursday's Daily Telegraph, says that the top rate of tax is reducing government income and damaging the economy.

Tony Stein, the director of Canterbury Care, which runs care homes in Kent, is one of those businessmen who has signed the letter. BBC Radio 5 live Morning Reports asked him why.

To hear other 5 live interviews, please visit the best bits page.

  • 01 Mar 2012
Go to next video: Is the 50p tax rate good for the UK?