Chancellor George Osborne defends 50p top tax review

The Chancellor George Osborne has defended the government's review of the top rate 50p tax.

Liberal Democrats have signalled they would be against any plans to abolish the rate. Nick Clegg said cutting a tax for the "very, very rich" would "destroy" public confidence.

Mr Osborne said he agreed with people who said some lower and middle income earners needed to be taken out of the tax bracket.