Governments must not target pensions tax relief

Moira O'Neill

George Osborne’s pension reforms have, it is claimed this week, been motivated by a desire to bring forward tax revenues for the Exchequer. This sets a dangerous precedent for future raids on our pension savings. But whatever it does, the government should not raid tax-relief on pension contributions. Without giving people tax-relief when they put money aside for the future there is a real risk that some people could end up paying income tax twice on earnings they put aside for their retirement

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