A senior Labour politician has provoked fury by promising to tax London bankers to fund jobs and training in Scotland.

Scottish Labour leader Jim Murphy pledged the money would bankroll a £1bn 'Scottish jobs guarantee.'

Mr Murphy had already promised to use the proceeds of Labour's mansion tax to pay for 1,000 nurses in Scottish hospitals.

Credit: PA

In a speech in the City of London he said Labour's proposed tax on bankers' bonuses would guarantee a job or training for 'every single young Scot.'

We're going to take the vast wealth that's in the City of London and we're going to tax the bankers' bonuses and we're going to use that money to guarantee a job or training for every young working class Scot.

Jim Murphy MP, Leader, Scottish Labour Party
Credit: PA

Mr Murphy's latest promise to Scottish voters was condemned by business leaders in London.

This message of using London as a cash cow or pulling London down is not sustainable in the long term.

David Lutton, London First, speaking to the Evening Standard