Osborne could scrap higher rate pension tax relief-reports

Treasury discussions are understood to have started on a move to axe tax relief currently paid out on pension contributions by people who pay income tax at the higher rates of 40% and 50%, according to the Sunday Telegraph. The money saved could go towards cutting the budget deficit or provide a significant increase to the value of the basic state pension. Ministers last year studied similar plans but instead decided to reduce the amount of tax-free income savers can put into pensions. That total was cut from £255,000 to £50,000 from April. However, The Sunday Telegraph understands...