Industry lobbied for sipps u-turn, says Treasury

But Treasury officials have shifted the blame saying they did so in response to industry concerns. In its review of the 2005 Pre-Budget report (PBR), the TSC says although concerns about the possible impact on the housing market raised by the previous committee and others, makes the revised policy appear “appropriate”, it says the reversal came “very late in the day”. Evidence given on the subject by Treasury official Tony Orhnial, director of personal tax and welfare reform, included a denial the u-turn was a “panic decision”. Iinstead, he described it as a “considered” move, but admi...