They just don’t get it

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Pensions Company Aviva join call for cut to higher rate pension tax relief | ToUChstone blog: A public policy blog from the TUC.

The TUC recently pointed out that pension tax relief for the top 3% or so of UK earners costs about £9bn a year.

Now insurance company Aviva has called for the abolition of higher rate tax relief with the money saved to provide tax relief of 30% for all pensions savings.

Nigel Stanley at the TUC noted this though:

The Times report has a tremendous “They Just Don’t Get It” to finish however:

Tom McPhail of Hargreaves Lansdown, the financial adviser, said: “The proposal to realign the tax relief will not be at all popular with higher rate taxpayers, who must be increasingly feeling as if they are being forced to bear the entire weight of the Government’s economic woes on their backs.”

I rather think those who have lost their jobs might have something to say about that.

Too true.

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