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Tax relief removal would be Osbornes stealth doubletax says ABI

Tax relief removal would be Osborne's ‘stealth double-tax', says ABI

Commenting on speculation that higher rate tax relief on pension contributions may be removed or reduced in the Budget on 21 March, Otto Thoresen, Director General, ABI, said:

"Changing tax relief would be a stealth double-tax equal to the infamous Gordon Brown raid that caused so much damage to this country's savings culture. There can be no justification for double-taxing responsible savers who are attempting to provide for their future."

"In Opposition, George Osborne repeatedly stressed he would be a pro-savings Chancellor. At this very difficult time for savers, he needs to live up to his promises and resist the temptation to view pensions as an easy, short-term hit."

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Last updated 01/07/2016