Senior Labour politician provokes fury promising to tax London bankers to fund jobs in Scotland

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

Credit: PA

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.

The last time I spoke about using the mansion tax, much of which comes from London to fund the NHS across the UK I came under attack by the unlikely coalition of Diane Abbott and Boris Johnson.

This time round if the current mayor and wannabe mayor want to have a pop at me for using the money from the bonuses of some London bankers to put young Scots back into work then so be it. I won't lose any sleep.

– 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.

Our rivals are not Glasgow and Edinburgh but Hong Kong, Dubai and Singapore.

If we do not nurture London as a hub for investment, that will affect investment to the UK in the long run.

– David Lutton, London First, speaking to the Evening Standard