IFAs, product providers and treasury rubbish abolishment of tax relief

Reports that tax relief on pension contributions is going to be phased out in the chancellor's upcoming pre-Budget statement next month have been caned by industry players and government alike as an example of pre-Budget hype without substance. Bestinvest managing director Jason Hollands says that following through on a policy of abandoning tax relief would be "disastrous" for the government's stated aim of encouraging savings. "Who bought unit trusts and OEICS before PEPs and ISAs? Ending tax relief would only be another way of bashing the middle classes. Given that this is a...