Budget 2010: Treasury rejects industry pleas over tax-relief restrictions

In his Budget, Alistair Darling confirmed he would retain the restrictions originally announced in last year's budget and expanded in December's Pre-Budget Report. Darling confirmed: "Tax relief on pensions will be restricted but only for those earning £130,000 a year." The Treasury also published a summary of the responses it received on its consultation on implementing the restriction of pensions tax relief - and outlined the Government's response and the next steps for developing the restriction ahead of its introduction in April 2011. But it rejected pleas from the pensions ind...