Lib Dems back abolition of 40% tax relief on pensions

In Brighton the Liberal Democrats set out their proposals for a “Fairer, Simpler, Greener” tax system, in a motion put forward by Vince Cable, Shadow Chancellor of the Exchequer. And the Liberal Democrats at the conference endorsed the policy paper, as “a statement of the party’s policies for revenue-neutral reform of taxation based on these principles”. This means should the Liberal Democrats come to power, tax relief on pension contributions by both employers and employees will only be paid at the basic rate of income tax. In particular the conference welcomed seven key areas of the...