Nick Clegg
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Nick Clegg: 'Rich should pay more tax'

29 August 2012 Last updated at 22:56 BST

The deputy prime minister Nick Clegg has suggested the UK's wealthiest people could be asked to pay more tax for a limited period.

In an interview with the Guardian newspaper, the deputy prime minister said that "to remain cohesive and prosperous as a society" those of "very considerable" wealth should contribute more.

But Labour said Mr Clegg was taking British people "for fools", and the chancellor George Osborne has appeared to dismiss the suggestion, saying he did not want to "drive away the wealth creators".

James Landale reports.