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Green Party pledges to raise top tax rate

The Green Party have said they would increase the top rate of tax to 60p in the pound.

Green Party leader Natalie Bennett said the tax would bring in an extra £2 billion a year for public services.

Green MP for Brighton Caroline Lucas and leader Natalie Bennett. Credit: Press Association

Bennett said the tax would also act as a disincentive to companies paying their staff "excessively high" salaries.

For too long now the economy in this country has worked for those at the top, while failing everyone else.

The 60p tax will raise money to fund crucial public services, contributing towards the reversal of the failed policy of austerity that is making the poor, the disadvantaged and the young pay for the greed and fraud of the bankers.

Only the Green Party are proposing radical changes which will redistribute wealth within our economy and encourage companies to reduce the gap between their highest- and lowest-earners.

– Natalie Bennett, Green Party leader

The top rate of tax applies to incomes over £150,000-a-year. It is currently at 45p after being cut from 50p by the coalition.