George Osborne
Media playback is unsupported on your device
Video

Tory conference: George Osborne on tax and benefits cap

George Osborne told the Conservative Party Conference that each of his budgets had increased taxes on the the very richest people in Britain.

The chancellor described why he took action to lower the top tax rate saying it was a "crippling uncompetitive 50p rate that has raised no money and cost jobs".

Mr Osborne said it was wrong for those in the City of London to pay less tax than their cleaners, and it was also wrong for people to be better off on benefits than they would be in work.

Full coverage of the Conservative Party Conference

Go to next video: Rail bids: Ministers 'don't see details'