Budget Anticipated: Pension Tax Reforms

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pensions

The Times & The Sunday Times

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We can’t have any more budgets where speculation is running wild

Summary

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72% Informative

The chancellor's pre-election pledges have limited her options so much, it’s pretty hard to see where else she could find serious money.

Most recent speculation has been about the national insurance treatment of employer pension contributions.

I'm not sure whether to laugh or cry at the constant implication that somehow those working in the public sector are more important than the majority of us toiling away in private sector.

The maximum for the latter is now set at 268,275 , a level frozen in cash terms by default. Keeping it there might not provide a lot of fiscal help in the short run, but would strengthen the long-run public finances without causing any immediate hardship. The prime minister and chancellor have promised stability. This is one area where it is desperately needed and easily achieved. Paul Johnson is director of the Institute for Fiscal Studies . Follow him on @PJTheEconomist.

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Neutral language

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informal

Language

English

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not offensive

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not hateful