0530 GMT
London
Friday
29 January 2010
Editor© Muhammad Haque
http://www.reuters.com/article/idUSLDE60S00H20100129?type=marketsNews
MAXIMUM CROSSRAIL LEVY TO HIT COMPANIES
London mayor Boris Johnson will announce plans on Friday for the capital's businesses to pay the maximum extra levy to fund Crossrail for the next quarter of a century. Johnson's plan to impose the two pence in the pound business rate supplement from April comes in spite of warnings that the tax could damage companies' chances of recovering from recession. The levy is being introduced to finance 4.1 billion pounds of the Greater London Authority's contribution to the 16 billion pound Crossrail scheme.
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