by business editor Trevor Sturgess

The CBI has urged the Chancellor to signal an end to the 50p income tax rate in an "all-action" Budget for jobs and growth.

In a letter to George Osborne, the employers organisation which has a regional office in Sevenoaks says George Osborne should focus on three critical areas: boosting export performance, unleashing domestic investment spending, and removing barriers for high-growth firms.

The CBI's proposals include faster planning procedures to stimulate more investment in infrastructure, encouragement for firms to become more energy efficient, and more support for growing middle-size companies like the Mittelstand enterprises in Germany.

It says the Budget on March 23 should also address areas of taxation which discourage entrepreneurship and undermine UK competiveness.

It wants Mr Osborne to pledge an eventual reduction in the 50p personal tax rate which it claims is deterring talented people from coming to the UK.

John Cridland, CBI Director-General, said: "This Budget must demonstrate a relentless focus on growth to help get the UK working again.

"We need an all-action Budget which boosts exports, investment and jobs.

"Mobile talent needs a good reason to do business in the UK, so the Chancellor should signal a road map for reducing the 50p tax rate."