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higher rate tax reliefTelegraph
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73% Informative
Rachel Reeves will be urged to raid pension savings of up to 6 m middle-class workers.
The Chancellor is expected to consider a proposal for a flat 30pc rate of pension tax relief.
Higher rate payers will pay an effective 10pc tax charge on retirement contributions for the first time.
Plan would affect 6 m higher and additional rate taxpayers, costing the wealthiest savers 2,600 .
Ms Reeves has spoken in favour of restricting relief on pensions but has since distanced herself from the proposals.
Sir Steve said it would be extremely complex to implement for millions of workers in traditional salary-related pension schemes.
The bulk of contributions in such schemes comes from employers and are made without any deduction of tax.
If higher earners lost higher rate tax relief they would potentially face a tax surcharge not just on their personal contributions but also on their employer's contributions.
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