Experts have suggested changes to the way pensions are taxed are becoming more likely
Chancellor of the Exchequer Rachel Reeves arrives in Downing Street to attend weekly Cabinet meeting Wiktor Szymanowicz/Future Publishing via Getty ImageChanges to the way pensions are taxed are “certain” to be on Chancellor Rachel Reeves’ agenda as she looks to close a £22bn “black hole” in the public finances, experts have warned.
Mike Ambery, Standard Life’s Retirement Savings Director, added: “There are clear indicators that changes to taxation and changes to savings and benefits are under scrutiny and in focus.” “And so there will be more difficult decisions around spending, around welfare and around tax at the Budget, and the spending review later this year. I think it’s important to be honest with people. People have been misled for too long.”
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