A quest for fairness, logic and stability

The debate on pension tax relief continues. In the Autumn statement it was announced the annual allowance would be reduced from £50,000 to £40,000 in 2014. However, the debate did not end there. The Labour Party announced plans, should they get back into power, to remove higher rate relief for those earning in excess of £150,000. This would involve a tapering mechanism to avoid a cliff edge situation, a lot like Alistair Darling’s plans, which were reversed by the coalition government. Then, just to finish us all off, Ed Miliband said pensions tax relief should be limited to £26,00...