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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The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime