Treasury

This week’s top stories included the launch of Scottish Widows’ new responsible investment team, and reports of Treasury plans to cut pension tax relief for high earners.

High earners could face significant cuts to pension tax relief in the upcoming Budget under new Treasury plans to rein in the “perverse” system, according to reports.

Chancellor of the Exchequer Rishi Sunak has confirmed the government will go ahead with its Budget on 11 March, despite Sajid Javid’s resignation.

Only a “comprehensive rethink” will be able to fix the “bloated, inefficient mess” of the current pension tax system, says Hargreaves Lansdown head of policy Tom McPhail.

HM Treasury intends to give tax relief worth hundreds of millions of pounds to those earning over £110,000, it is being reported.

HM Treasury has confirmed that the government will hold its Budget on 11 March.

FTSE 100 chief executives are more likely to be called Steve than they are to be women, who account for 50% of the population, unlike men called Steve.

The Labour party and the Liberal Democrats have published their 2019 election manifestos, with little similarities in proposals for the future of pensions policy.

The government is to pay the tax bills of NHS workers caught out by changes to pension contribution limits who have been turning down additional work for fear of running up large tax bills.

With the spectre of Brexit looming over parliament, Jonathan Stapleton has some scepticism that the pension schemes bill will be enacted any time soon.