Nick Clegg has suggested a temporary new tax on the wealthiest to help economic recovery.

George Bull, senior tax partner at Baker Tilly, believes the deputy prime minister is in "bit of a bind" following the reduction of the top rate of income tax from 50 to 45p in George Osborne's budget last March.

He told the Today programme that Nick Clegg is trying to "tow the cabinet line" on sticking to the 45p top rate tax, "so to collect more taxes he has got to have a wealth tax."

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