Jeremy Hunt battling to justify pensions giveaway to the top 1%

Move will have no impact on NHS retention of doctors, say economic thinktanks

Budget 2023: key points at a glanceWhat the budget means for people on a range of incomes

Jeremy Hunt is battling to justify his budget pensions giveaway to the 1% after two leading economic thinktanks warned it could have no impact on NHS retention while opening up a vast new loophole for tax avoidance.

The Institute for Fiscal Studies and the Resolution Foundation both said it was doubtful the £1bn tax break would meet the chancellor’s stated goal of retaining more senior doctors in the workforce, and could allow wealthy individuals to avoid inheritance tax.

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8 months ago

The idea behind this was to incentivise higher earners to work longer, therefore over the years paying more in tax to the government. Not such a bad thing!