Autumn Budget 2017: Chancellor misses opportunity to address pension tax relief imbalance

This Budget was heavily flagged to be about helping young people, and one area where young people are undoubtedly worse off than today’s retirees is in their pension prospects. The Chancellor missed a great opportunity to address this intergenerational unfairness by not addressing the gross inequality in the tax relief paid to the best off in society against the poorest for whom, a decent pension is a distant dream. The Chancellor could have levelled the playing field by introducing a much fairer system of the same tax relief for all. This would significantly boost the pensions of the poorest whist still allowing the richest some tax breaks. It is disappointing that the Chancellor has not taken this opportunity to address this imbalance.

 

Matthew Brown

Private Client Partner

 

Comments appeared in:

Money Observer on the 22nd November 2017

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