Labour calls for top pension relief to fall to 26%

These earners receive 50% tax relief, which could be better spent on tax breaks for the lowest earners, Balls said. However, the Conservatives and the Association of British Insurers (ABI) have been quick to condemn the idea. The comments from Labour come after several weeks of speculation over the Coalition's plan for higher rate pensions tax relief, which will be revealed in next week's Budget. Balls today claimed that fewer tax breaks for the rich would mean no changes need to be made to child tax credit or working tax credit. However, Otto Thoresen, director general of the A...