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Subway boss: US tax rates are screwed up

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In March last year, Subway became the biggest fast food chain in the world, outnumbering McDonalds' stores.

Globally there are now more than 36,000 outlets in 98 countries from Afghanistan to Zambia.

Currently it has almost 1,500 outlets in the UK and aims is to increase this to 2,000 by the year 2015, claiming it will create 6,000 new jobs.

Fred De Luca, founder and president of Subway, talks the the Today programme's Simon Jack about why the franchise of Subway has been such a success.

He maintained that "banks are more likely to loan to you" if you are part of a franchise system as well as it being easier to follow an established brand.

When asked whether he thought rich people should contribute more to an ailing economy, as suggested by Warren Buffett, the billionaire said that "it's not a bad idea for people on higher incomes to pay more tax providing those increases reduce the taxes of lower income people rather than just giving the government more money to spend".


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