The Chancellor George Osborne should think about cutting the top rate of income tax, Boris Johnson said today as he praised India for having a more attractive regime for entrepreneurs.

The London Mayor said the Chancellor should "brood" on whether the top rate of tax - which currently stands at 45% - should be cut.

He said he met Mumbai-based businessmen this morning, who asked him whether London could be made more attractive to foreign investors through lower rates of tax and less regulation.