Cut tax relief for 60% state pension boost: Johnson

Speaking at the Friends Life Global Forum on Wednesday, Johnson - a research fellow at the Centre for Policy Studies - described the £29bn acquired from pensions tax relief as the "juiciest, lowest-hanging piece of fruit in the wood" for the Treasury. However, he said the Treasury has yet to really examine whether there are savings opportunities. Johnson said: "What is tax relief for other than an inducement to save in a pensions framework? If it is really to encourage people to save a reduce pensions poverty then why not take that £29bn a year and add it to the £51bn a year we spend ...