As the government is deciding on whether to reform pension taxation, Henry Tapper gives his views on why tax relief must be abolished as soon as possible...
Few people think tax-relief will remain unscathed after the Budget. I don't want death by a thousand cuts, I want a quick and clean execution. I am not calling for the end of pensions, I am calling for root and branch reform of the way government manages people's savings behaviour, encourages non-savers into saving and ensures a competitive, saver-focused pension industry. Here is why: 1 We can't afford pensions tax-relief This isn't my thought, nor the Chancellor's, it's the conclusion of our Office for Budget Responsibility (OBR), which said: The public finances are likely...
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