Labour abandons pension tax raid
This is a news story, published by The Times & The Sunday Times, that relates primarily to Rachel Reeves news.
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tax reliefThe Times & The Sunday Times
•Rachel Reeves backs down on pension tax raid
71% Informative
Treasury officials have told Rachel Reeves that reducing tax relief on higher earners would disproportionately hit those of relatively modest incomes who work for the state.
It could lead to a nurse earning 50,000 facing an additional tax bill of up to 1,000 a year.
One senior government figure said it would be “madness” to inflict large tax rises on public sector workers.
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