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


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

Opinions, interpretations and conclusions expressed in this document represent our judgement as of this date and are subject to change. Furthermore, the content is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or a solicitation to buy or sell any securities or to adopt any investment strategy.

Thomas Miller Investment is the trading name of the businesses in the Thomas Miller Investment Group. This note has been issued by Thomas Miller Wealth Management Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Register Number 594155) and is a company registered in England, number 08284862

Please get in touch if you have any questions, our team would be happy to help.

The value of your investment can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Prevailing tax rates and relief are dependent on individual circumstances and are subject to change.