In the most Left-wing Budget for decades, the Chancellor pushes taxes to their highest level in history and relaxes government borrowing rules to finance a massive spending spree. MailOnline explains Rachel Reeves' speech.
Pension savers face a £3.4 billion inheritance tax raid amid a major shake-up of death taxes announced by Rachel Reeves .
The Treasury will rake in more than £3.4 billion from pension pots in the form of inheritance taxes by 2030, official forecasts reveal. Any remaining money left in a pension upon death can therefore be passed on to loved ones in a tax-efficient way. Pension experts have warned the reform will throw years of succession planning into disarray and many savers will be forced to overhaul their plans for passing wealth down to the next generation in order to shield their retirement pots from the taxman.
Pensioners will be encouraged to spend their pension while still relatively young, leaving much less to live on if they survive to older age.'The Budget tax hike rivals 1993's eyewatering revenue-raiser in the wake of Black Wednesday - and might be even bigger if measured at current prices rather than as a proportion of GDP
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