TaxPersonal Tax‘A slip of the tongue’ Labour admits Brown’s TV gaffe on tax relief

'A slip of the tongue' Labour admits Brown's TV gaffe on tax relief

Debate promise of pensions tax relief extension for those earning over £100,000 revoked

Gordon Brown’s suggestion the Labour Party would extend its policy to
restrict pensions tax relief to include people earning more than £100,000 was a
“slip of the tongue”, a Labour spokesman says.

The prime minister provoked confusion last night when he said Labour would ”
take away tax relief for those above £100,000 at a higher rate” as part of its
deficit reduction plan.

The apparent announcement of a new policy in the Leaders’ Debate sparked a
furious reaction from experts in the industry.

Hargreaves Lansdown head of pensions research Tom McPhail said reducing the
pensions tax relief threshold had been discussed prior to the budget – and
admitted he would “assume the worst”.

Barnett Waddingham partner Clive Grimley claimed the move – which would have
affected 304,000 people – would have been an example of “yet another stealth tax
“.

However, the spokesman insisted the policy in the manifesto – which stated
that the measure would apply to those earning more than £130,000 – still stood.

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