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Business & Economics

UK pension reforms will cost UK Treasury 75,000 pounds per person in tax breaks, analysis shows

Slashdot: News
Summary
Nutrition label

69% Informative

In his budget speech on Wednesday Jeremy Hunt scrapped the lifetime allowance on pensions -- the total that workers can pile into their retirement pot without incurring tax -- and increased the tax-free annual limit on contributions by 50% to 60,000 pounds.

The shift is designed to reverse a trend in the number of older workers dropping out of jobs since the pandemic, which has contributed to a shortage of staff and is fanning inflation.

VR Score

81

Informative language

91

Neutral language

56

Article tone

formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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